Kornit Digital Ltd. (NASDAQ:KRNT – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $16.67, but opened at $15.61. Kornit Digital shares last traded at $16.14, with a volume of 25,293 shares trading hands.
Wall Street Analyst Weigh In
Separately, StockNews.com cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a research report on Sunday.
View Our Latest Stock Report on KRNT
Kornit Digital Stock Performance
Kornit Digital (NASDAQ:KRNT – Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The company 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%. Research analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.
Institutional Trading of Kornit Digital
A number of hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Kornit Digital by 9,252.9% in the 3rd quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,573 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Kornit Digital by 97.9% in the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after buying an additional 1,027 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Kornit Digital by 402.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $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 in the fourth quarter valued at approximately $140,000. Finally, Van ECK Associates Corp lifted its holdings in 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 purchasing an additional 742 shares during the last quarter. Institutional investors 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.
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