Kornit Digital (NASDAQ:KRNT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Kornit Digital, Ltd. is engaged in developing, manufacturing and marketing industrial and commercial printing solutions. The company offers a portfolio of direct to garment printers from entry level to mass production; NeoPigment ink solutions; roll to roll printers and pretereatment systems and software for the garment and textile printing industry. Kornit Digital, Ltd. is headquartered in Rosh-Ha`Ayin, Israel. “
A number of other research firms also recently weighed in on KRNT. BidaskClub downgraded Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. TheStreet raised Kornit Digital from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. Barclays set a $17.00 price target on Kornit Digital and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Citigroup raised Kornit Digital from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, January 23rd. Finally, Needham & Company LLC cut their price objective on Kornit Digital from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Kornit Digital has an average rating of “Buy” and a consensus price target of $19.67.
Shares of Kornit Digital (NASDAQ KRNT) opened at $13.15 on Thursday. Kornit Digital has a one year low of $11.70 and a one year high of $23.15. The firm has a market capitalization of $459.64, a PE ratio of -262.95, a PEG ratio of 0.96 and a beta of 0.02.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). Kornit Digital had a positive return on equity of 1.70% and a negative net margin of 1.77%. The firm had revenue of $29.95 million for the quarter, compared to analysts’ expectations of $30.51 million. sell-side analysts predict that Kornit Digital will post 0.35 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Meitav Dash Investments Ltd. bought a new position in shares of Kornit Digital in the 4th quarter valued at approximately $12,978,000. Disciplined Growth Investors Inc. MN raised its stake in shares of Kornit Digital by 3.2% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 182,352 shares of the industrial products company’s stock valued at $2,945,000 after acquiring an additional 5,732 shares in the last quarter. Crestline Management LP bought a new position in shares of Kornit Digital in the 4th quarter valued at approximately $1,213,000. Bamco Inc. NY raised its stake in shares of Kornit Digital by 37.1% in the 4th quarter. Bamco Inc. NY now owns 233,000 shares of the industrial products company’s stock valued at $3,763,000 after acquiring an additional 63,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in shares of Kornit Digital by 35.1% in the 4th quarter. Kennedy Capital Management Inc. now owns 401,188 shares of the industrial products company’s stock valued at $6,479,000 after acquiring an additional 104,215 shares in the last quarter. 82.02% of the stock is currently owned by institutional investors and hedge funds.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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