Trust Point Inc. Raises Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Trust Point Inc. lifted its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,868 shares of the industrial products company’s stock after buying an additional 785 shares during the period. Trust Point Inc.’s holdings in Kornit Digital were worth $462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC grew its holdings in shares of Kornit Digital by 97.9% during the first 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 last quarter. nVerses Capital LLC acquired a new position in Kornit Digital during the second quarter worth approximately $40,000. Signaturefd LLC lifted its stake in Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after buying an additional 779 shares during the last quarter. Privium Fund Management B.V. acquired a new stake in shares of Kornit Digital in the second quarter valued at approximately $159,000. Finally, Bank of New York Mellon Corp grew its position in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 1,184 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KRNT shares. StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum upped their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Needham & Company LLC reissued a “buy” rating and set a $27.00 price target on shares of Kornit Digital in a report on Thursday, September 12th. Barclays upped their price objective on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley increased their price objective on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Kornit Digital Stock Down 0.7 %

Shares of NASDAQ:KRNT opened at $24.51 on Friday. Kornit Digital Ltd. has a fifty-two week low of $13.29 and a fifty-two week high of $26.64. The firm’s 50-day simple moving average is $21.95 and its 200-day simple moving average is $17.66. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -20.09 and a beta of 1.92.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $48.62 million for the quarter, compared to analysts’ expectations of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.28) EPS. On average, research analysts forecast that Kornit Digital Ltd. will post -0.28 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.