Kornit Digital (NASDAQ:KRNT) Upgraded at StockNews.com

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Kornit Digital Trading Down 2.5 %

Shares of KRNT stock opened at $15.41 on Friday. The firm has a fifty day simple moving average of $17.18 and a two-hundred day simple moving average of $17.29. Kornit Digital has a 12 month low of $13.29 and a 12 month high of $31.94. The firm has a market capitalization of $735.67 million, a PE ratio of -11.67 and a beta of 1.89.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, topping 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 company had revenue of $56.59 million during the quarter, compared to the consensus estimate of $57.35 million. On average, equities analysts predict that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Allworth Financial LP raised its position in Kornit Digital by 9,252.9% in the 3rd quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,573 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kornit Digital in the third quarter valued at about $58,000. Tower Research Capital LLC TRC raised its holdings in shares of Kornit Digital by 402.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 4,642 shares during the last quarter. Anchor Investment Management LLC bought a new position in shares of Kornit Digital during the fourth quarter valued at about $140,000. Finally, Handelsbanken Fonder AB boosted its holdings in Kornit Digital by 40.5% during the third quarter. Handelsbanken Fonder AB now owns 10,957 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 3,157 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.

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.