Kornit Digital (NASDAQ:KRNT) Rating Reiterated by Needham & Company LLC

Kornit Digital (NASDAQ:KRNT)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $27.00 target price on the industrial products company’s stock. Needham & Company LLC’s target price suggests a potential upside of 73.41% from the stock’s previous close.

Separately, StockNews.com cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Sunday.

Kornit Digital Stock Performance

KRNT stock traded up $0.39 on Thursday, hitting $15.57. 308,446 shares of the company’s stock were exchanged, compared to its average volume of 466,287. The firm has a 50 day moving average price of $16.89 and a two-hundred day moving average price of $17.32. Kornit Digital has a 12-month low of $13.29 and a 12-month high of $31.94. The stock has a market cap of $743.23 million, a P/E ratio of -11.68 and a beta of 1.88.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.08. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. The business had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. Sell-side analysts expect that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in 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 buying an additional 1,573 shares during the period. Headlands Technologies LLC increased its holdings in Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,027 shares during the period. Tower Research Capital LLC TRC raised its position in 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 in the last quarter. Anchor Investment Management LLC acquired a new position in shares of Kornit Digital during the fourth quarter worth about $140,000. Finally, Van ECK Associates Corp grew its position in shares of Kornit Digital by 6.8% during the third quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company’s stock worth $220,000 after buying an additional 742 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.