LHM Inc. Buys 49,755 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

LHM Inc. raised its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,964 shares of the industrial products company’s stock after purchasing an additional 49,755 shares during the period. Kornit Digital accounts for 4.5% of LHM Inc.’s portfolio, making the stock its 4th largest holding. LHM Inc. owned 0.95% of Kornit Digital worth $14,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KRNT. Fifth Third Bancorp lifted its position in Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 393 shares during the period. Parkside Financial Bank & Trust lifted its position in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 988 shares during the period. US Bancorp DE lifted its holdings in shares of Kornit Digital by 7.4% during the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 572 shares during the period. Privium Fund Management B.V. lifted its holdings in shares of Kornit Digital by 8.8% during the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 950 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Kornit Digital by 6.0% during the fourth quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company’s stock valued at $546,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Craig Hallum lifted their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Needham & Company LLC lifted their price target on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $22.93 on Thursday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -65.51 and a beta of 2.02. The stock’s 50 day moving average price is $28.64 and its two-hundred day moving average price is $27.05. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. On average, equities research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Kornit Digital 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.