Wells Fargo & Company MN increased its holdings in Kornit Digital Ltd (NASDAQ:KRNT) by 973.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,546 shares of the industrial products company’s stock after purchasing an additional 7,750 shares during the period. Wells Fargo & Company MN’s holdings in Kornit Digital were worth $138,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Granite Point Capital Management L.P. increased its position in Kornit Digital by 22.5% in the fourth quarter. Granite Point Capital Management L.P. now owns 98,000 shares of the industrial products company’s stock worth $1,583,000 after purchasing an additional 18,000 shares during the last quarter. First Washington CORP increased its position in Kornit Digital by 20.6% in the fourth quarter. First Washington CORP now owns 194,527 shares of the industrial products company’s stock worth $3,142,000 after purchasing an additional 33,229 shares during the last quarter. Gradient Investments LLC bought a new stake in Kornit Digital in the fourth quarter worth $469,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Kornit Digital in the fourth quarter worth $103,000. Finally, Picton Mahoney Asset Management bought a new stake in Kornit Digital in the fourth quarter worth $785,000. Institutional investors own 91.51% of the company’s stock.
NASDAQ KRNT opened at $15.50 on Friday. The firm has a market cap of $531.30 million, a price-to-earnings ratio of 129.17, a PEG ratio of 1.05 and a beta of 0.22. Kornit Digital Ltd has a 52 week low of $11.70 and a 52 week high of $22.40.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $29.95 million for the quarter, compared to analysts’ expectations of $30.51 million. Kornit Digital had a return on equity of 2.54% and a net margin of 0.24%. equities analysts anticipate that Kornit Digital Ltd will post 0.37 EPS for the current fiscal year.
Several brokerages recently weighed in on KRNT. BidaskClub upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Friday. Citigroup upgraded shares of Kornit Digital from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, January 23rd. Zacks Investment Research cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Needham & Company LLC reduced their price target on shares of 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 shares of Kornit Digital from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $19.67.
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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