HighTower Advisors LLC Buys New Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

HighTower Advisors LLC purchased a new position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,644 shares of the industrial products company’s stock, valued at approximately $237,000.

A number of other institutional investors have also modified their holdings of the stock. Lisanti Capital Growth LLC raised its position in Kornit Digital by 119.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock worth $6,618,000 after acquiring an additional 116,170 shares during the period. LHM Inc. raised its holdings in shares of Kornit Digital by 12.3% during the fourth quarter. LHM Inc. now owns 453,964 shares of the industrial products company’s stock valued at $14,050,000 after acquiring an additional 49,755 shares during the last quarter. US Bancorp DE lifted its position in shares of Kornit Digital by 7.4% in the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 572 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Kornit Digital by 33.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 51,307 shares of the industrial products company’s stock worth $1,588,000 after purchasing an additional 12,770 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KRNT shares. Needham & Company LLC boosted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley raised their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Kornit Digital Stock Up 3.5 %

Kornit Digital stock opened at $19.59 on Thursday. The firm has a market capitalization of $931.54 million, a PE ratio of -55.97 and a beta of 2.08. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29. The firm’s 50-day simple moving average is $24.86 and its 200 day simple moving average is $27.23.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. On average, research analysts expect that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

About Kornit Digital

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.