Kornit Digital Ltd. (KRNT) Position Increased by Sphera Funds Management LTD.
Sphera Funds Management LTD. increased its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 6,266.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,300 shares of the industrial products company’s stock after buying an additional 56,400 shares during the period. Sphera Funds Management LTD. owned about 0.18% of Kornit Digital worth $1,109,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in Kornit Digital during the fourth quarter worth about $218,000. Russell Investments Group Ltd. bought a new stake in Kornit Digital during the first quarter worth about $3,557,000. Kornitzer Capital Management Inc. KS increased its stake in Kornit Digital by 43.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 133,100 shares of the industrial products company’s stock worth $2,542,000 after buying an additional 40,000 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Kornit Digital during the first quarter worth about $475,000. Finally, Swiss National Bank increased its stake in Kornit Digital by 165.7% in the first quarter. Swiss National Bank now owns 38,000 shares of the industrial products company’s stock worth $726,000 after buying an additional 23,700 shares during the last quarter. Hedge funds and other institutional investors own 73.83% of the company’s stock.
Kornit Digital Ltd. (NASDAQ:KRNT) opened at 16.60 on Friday. Kornit Digital Ltd. has a 12 month low of $8.90 and a 12 month high of $23.15. The firm’s market capitalization is $558.72 million. The firm’s 50-day moving average is $18.50 and its 200-day moving average is $18.56.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The company had revenue of $28.59 million for the quarter, compared to the consensus estimate of $29.81 million. During the same quarter last year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts expect that Kornit Digital Ltd. will post $0.42 EPS for the current year.
KRNT has been the subject of a number of recent analyst reports. Barclays PLC boosted their target price on shares of Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. Zacks Investment Research downgraded shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Craig Hallum initiated coverage on shares of Kornit Digital in a report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 target price for the company. BidaskClub downgraded shares of Kornit Digital from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $24.00 target price on shares of Kornit Digital in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Kornit Digital has a consensus rating of “Buy” and an average target price of $21.86.
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.
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