Kornit Digital (KRNT) Rating Lowered to Strong Sell at BidaskClub

Kornit Digital (NASDAQ:KRNT) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on KRNT. Barclays reduced their price target on Kornit Digital from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, September 27th. Needham & Company LLC reduced their price target on Kornit Digital from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, September 27th. Canaccord Genuity reissued a “buy” rating and issued a $18.00 price target (down from $24.00) on shares of Kornit Digital in a research report on Wednesday, September 27th. Stifel Nicolaus reduced their price target on Kornit Digital from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 27th. Finally, Citigroup lowered Kornit Digital from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.50 to $14.00 in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Kornit Digital has an average rating of “Hold” and an average price target of $19.00.

Kornit Digital (KRNT) traded up $0.62 on Tuesday, hitting $15.70. The stock had a trading volume of 545,851 shares, compared to its average volume of 299,392. The company has a market cap of $508.56, a price-to-earnings ratio of -1,570.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.17. Kornit Digital has a 52-week low of $12.85 and a 52-week high of $23.15.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC bought a new position in shares of Kornit Digital in the 3rd quarter worth $335,000. Stephens Investment Management Group LLC increased its position in Kornit Digital by 64.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock valued at $24,555,000 after buying an additional 496,117 shares in the last quarter. First Washington CORP acquired a new position in Kornit Digital during the 3rd quarter valued at about $2,468,000. Janus Henderson Group PLC acquired a new position in Kornit Digital during the 3rd quarter valued at about $8,850,000. Finally, Parametric Portfolio Associates LLC increased its position in Kornit Digital by 97.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 78,516 shares of the industrial products company’s stock valued at $1,519,000 after buying an additional 38,738 shares in the last quarter. 78.84% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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