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

StockNews.com downgraded shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research report released on Friday.

Kornit Digital Stock Performance

Shares of KRNT opened at $15.69 on Friday. The firm has a fifty day moving average of $17.56 and a 200-day moving average of $17.33. The company has a market cap of $749.04 million, a price-to-earnings ratio of -11.89 and a beta of 1.89. Kornit Digital has a 1 year low of $13.29 and a 1 year high of $31.94.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.08. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. The firm had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. Analysts predict that Kornit Digital will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in Kornit Digital by 103.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock worth $18,273,000 after acquiring an additional 485,000 shares during the period. Phoenix Holdings Ltd. lifted its holdings in Kornit Digital by 233.4% in the third quarter. Phoenix Holdings Ltd. now owns 178,825 shares of the industrial products company’s stock worth $3,381,000 after purchasing an additional 125,196 shares during the period. Schroder Investment Management Group grew its position in Kornit Digital by 106.3% in the 3rd quarter. Schroder Investment Management Group now owns 735,688 shares of the industrial products company’s stock valued at $13,912,000 after buying an additional 379,140 shares in the last quarter. Chicago Capital LLC increased its stake in Kornit Digital by 14.6% during the 3rd quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock valued at $31,392,000 after buying an additional 212,102 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of Kornit Digital during the 3rd quarter worth about $2,816,000. 92.76% of the stock is owned by institutional investors.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.