Kornit Digital (NASDAQ:KRNT) Upgraded to Hold by StockNews.com

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

Kornit Digital Price Performance

Shares of KRNT stock opened at $15.88 on Friday. The firm has a 50-day moving average price of $17.32 and a 200 day moving average price of $17.29. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $31.94.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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. Equities analysts predict that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Kornit Digital by 6.8% during the 3rd 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 during the last quarter. Legacy Advisors LLC increased its stake in shares of Kornit Digital by 5.3% during the 3rd quarter. Legacy Advisors LLC now owns 23,380 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 1,178 shares during the last quarter. Leisure Capital Management increased its position in Kornit Digital by 2.9% during the 3rd quarter. Leisure Capital Management now owns 45,611 shares of the industrial products company’s stock worth $863,000 after purchasing an additional 1,294 shares in the last quarter. Moody National Bank Trust Division increased its position in Kornit Digital by 3.5% during the 4th quarter. Moody National Bank Trust Division now owns 39,819 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC increased its position in Kornit Digital by 1.3% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock worth $2,125,000 after purchasing an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.