Eagle Global Advisors LLC reduced its holdings in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,266 shares of the industrial products company’s stock after selling 7,000 shares during the period. Eagle Global Advisors LLC owned about 0.10% of Kornit Digital worth $455,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of Kornit Digital by 65.5% in the first quarter. Wells Fargo & Company MN now owns 14,146 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 5,600 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Kornit Digital by 3.2% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 182,352 shares of the industrial products company’s stock valued at $2,945,000 after buying an additional 5,732 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Kornit Digital during the fourth quarter valued at $103,000. CAPROCK Group Inc. increased its holdings in shares of Kornit Digital by 46.9% during the fourth quarter. CAPROCK Group Inc. now owns 24,497 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 7,817 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its holdings in shares of Kornit Digital by 147.9% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 14,876 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 8,876 shares in the last quarter. Institutional investors and hedge funds own 92.91% of the company’s stock.
Several brokerages have recently weighed in on KRNT. BidaskClub upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Citigroup upgraded Kornit Digital from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, January 23rd. Zacks Investment Research downgraded Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. Needham & Company LLC lowered their price objective on Kornit Digital from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Finally, TheStreet cut Kornit Digital from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.67.
NASDAQ KRNT opened at $16.65 on Friday. The company has a market cap of $569.00 million, a PE ratio of 138.33, a P/E/G ratio of 1.66 and a beta of 0.22. Kornit Digital Ltd has a fifty-two week low of $16.50 and a fifty-two week high of $16.75.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business had revenue of $29.95 million during the quarter, compared to the consensus estimate of $30.51 million. Kornit Digital had a net margin of 0.24% and a return on equity of 2.54%. analysts forecast that Kornit Digital Ltd will post 0.25 earnings per share for the current year.
Kornit Digital Company Profile
Kornit Digital Ltd. designs, develops, and markets digital printing solutions for printed textile industry. It offers direct-to-garment printers from smaller commercial operators to mass producers; NeoPigment ink and other consumables; Vulcan, a digital substitution for carousel screen printing; Allegro roll to roll printers; QuickP Designer software; and value added services, such as maintenance and support, and professional services.
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