Kornit Digital (NASDAQ:KRNT) Downgraded to “Sell” at StockNews.com

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

Kornit Digital Price Performance

NASDAQ KRNT traded up $0.38 during trading on Friday, hitting $16.38. The company’s stock had a trading volume of 211,723 shares, compared to its average volume of 467,134. The business’s 50 day simple moving average is $17.02 and its 200-day simple moving average is $17.31. Kornit Digital has a fifty-two week low of $13.29 and a fifty-two week high of $31.94.

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

Institutional Investors Weigh In On Kornit Digital

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of Kornit Digital by 9,252.9% during the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,573 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Kornit Digital during the third quarter worth about $58,000. Tower Research Capital LLC TRC lifted its holdings in shares of Kornit Digital by 402.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 4,642 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Kornit Digital during the fourth quarter worth about $140,000. Finally, Van ECK Associates Corp raised its position in Kornit Digital by 6.8% during the third quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 742 shares in the last quarter. Institutional investors and hedge funds 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.