Kornit Digital (NASDAQ:KRNT) Rating Lowered to Sell at StockNews.com

Kornit Digital (NASDAQ:KRNT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $27.00 price target on shares of Kornit Digital in a research note on Thursday, May 9th.

Kornit Digital Price Performance

KRNT stock opened at $14.64 on Friday. Kornit Digital has a one year low of $13.29 and a one year high of $31.94. The stock has a market cap of $698.91 million, a PE ratio of -12.00 and a beta of 1.90. The firm has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $16.73.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. The company had revenue of $43.78 million during the quarter, compared to analysts’ expectations of $45.85 million. On average, research analysts expect that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

A number of institutional investors have recently made changes to their positions in KRNT. Headlands Technologies LLC boosted its position in Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after buying an additional 1,027 shares during the period. Tower Research Capital LLC TRC boosted its position in Kornit Digital by 402.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $111,000 after buying an additional 4,642 shares during the period. Anchor Investment Management LLC purchased a new stake in Kornit Digital during the 4th quarter valued at $140,000. Van ECK Associates Corp boosted its position in Kornit Digital by 12.4% during the 4th quarter. Van ECK Associates Corp now owns 13,099 shares of the industrial products company’s stock valued at $251,000 after buying an additional 1,441 shares during the period. Finally, Trust Point Inc. purchased a new stake in Kornit Digital during the 4th quarter valued at $271,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.