Kornit Digital (NASDAQ:KRNT) was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating in a research report issued on Thursday, January 11th.
Several other brokerages also recently commented on KRNT. Citigroup downgraded Kornit Digital from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $21.50 to $14.00 in a research note on Wednesday, September 27th. Stifel Nicolaus reduced their target price on Kornit Digital from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Canaccord Genuity reiterated a “buy” rating and set a $18.00 target price (down from $24.00) on shares of Kornit Digital in a research note on Wednesday, September 27th. Needham & Company LLC reduced their target price on Kornit Digital from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Finally, Barclays reduced their target price on Kornit Digital from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Kornit Digital currently has an average rating of “Buy” and a consensus price target of $19.83.
Kornit Digital (KRNT) traded down $0.30 during mid-day trading on Thursday, reaching $13.50. The company’s stock had a trading volume of 443,420 shares, compared to its average volume of 395,751. The company has a market capitalization of $465.54, a P/E ratio of -1,380.00, a price-to-earnings-growth ratio of 0.98 and a beta of 0.02. Kornit Digital has a 12-month low of $12.85 and a 12-month high of $23.15.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.02 earnings per share for the quarter. Kornit Digital had a positive return on equity of 4.62% and a negative net margin of 0.71%. sell-side analysts predict that Kornit Digital will post 0.09 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Kornit Digital in the 4th quarter valued at $103,000. Van ECK Associates Corp boosted its stake in Kornit Digital by 49.4% in the 2nd quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 2,583 shares during the period. Wells Fargo & Company MN boosted its stake in Kornit Digital by 1,540.0% in the 2nd quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 7,700 shares during the period. BlueCrest Capital Management Ltd bought a new stake in Kornit Digital in the 2nd quarter valued at $198,000. Finally, ETF Managers Group LLC bought a new stake in Kornit Digital in the 2nd quarter valued at $211,000. Institutional investors and hedge funds own 82.34% of the company’s stock.
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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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