LHM Inc. Purchases Shares of 822,533 Kornit Digital Ltd. (NASDAQ:KRNT)

LHM Inc. purchased a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 822,533 shares of the industrial products company’s stock, valued at approximately $12,042,000. Kornit Digital comprises approximately 4.4% of LHM Inc.’s investment portfolio, making the stock its 5th largest holding. LHM Inc. owned 1.72% of Kornit Digital as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Kornit Digital by 5,353.7% in the fourth quarter. BNP Paribas Financial Markets now owns 73,788 shares of the industrial products company’s stock valued at $1,414,000 after acquiring an additional 72,435 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of Kornit Digital by 23.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after acquiring an additional 282,241 shares during the period. Moody National Bank Trust Division boosted its position in shares of Kornit Digital by 7.9% in the first quarter. Moody National Bank Trust Division now owns 42,981 shares of the industrial products company’s stock valued at $779,000 after acquiring an additional 3,162 shares during the period. Silverberg Bernstein Capital Management LLC boosted its position in shares of Kornit Digital by 1.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock valued at $2,125,000 after acquiring an additional 1,550 shares during the period. Finally, Thompson Investment Management Inc. boosted its position in shares of Kornit Digital by 13.6% in the first quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company’s stock valued at $9,482,000 after acquiring an additional 62,607 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Analyst Upgrades and Downgrades

KRNT has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of Kornit Digital in a research report on Thursday, September 12th. Craig Hallum raised their target price on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley raised their target price on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Kornit Digital Trading Up 1.7 %

Shares of Kornit Digital stock opened at $24.26 on Friday. Kornit Digital Ltd. has a 1-year low of $13.29 and a 1-year high of $24.88. The firm’s 50-day moving average price is $18.04 and its two-hundred day moving average price is $16.62. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -19.89 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $48.62 million for the quarter, compared to analyst estimates of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. Kornit Digital’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.28) EPS. As a group, equities research analysts predict that Kornit Digital Ltd. will post -0.28 EPS for the current year.

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.