B. Riley Wealth Advisors Inc. Grows Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

B. Riley Wealth Advisors Inc. lifted its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 26.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,486 shares of the industrial products company’s stock after purchasing an additional 3,633 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Kornit Digital were worth $256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LHM Inc. purchased a new position in shares of Kornit Digital during the 2nd quarter worth $12,042,000. Chicago Capital LLC raised its stake in Kornit Digital by 14.9% during the second quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company’s stock worth $41,835,000 after purchasing an additional 370,962 shares during the period. Wasatch Advisors LP boosted its holdings in Kornit Digital by 6.7% in the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after purchasing an additional 114,372 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Kornit Digital by 5.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock worth $30,167,000 after buying an additional 111,971 shares during the last quarter. Finally, Roubaix Capital LLC raised its position in shares of Kornit Digital by 104.9% during the 1st quarter. Roubaix Capital LLC now owns 141,875 shares of the industrial products company’s stock valued at $2,571,000 after buying an additional 72,638 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

Kornit Digital stock opened at $24.31 on Wednesday. The stock’s fifty day moving average is $20.56 and its two-hundred day moving average is $17.28. The stock has a market cap of $1.16 billion, a PE ratio of -19.93 and a beta of 1.92. Kornit Digital Ltd. has a 1-year low of $13.29 and a 1-year high of $26.64.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $48.62 million during the quarter, compared to the consensus estimate of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.28) earnings per share. On average, research analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on KRNT shares. Morgan Stanley upped their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of Kornit Digital in a research note on Thursday, September 12th. Craig Hallum raised their price target on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Barclays increased their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Kornit Digital 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.