Anchor Investment Management LLC Decreases Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Anchor Investment Management LLC reduced its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,675 shares of the industrial products company’s stock after selling 325 shares during the period. Anchor Investment Management LLC’s holdings in Kornit Digital were worth $147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings 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 purchasing an additional 779 shares during the last quarter. Trust Point Inc. boosted its position in shares of Kornit Digital by 4.6% in the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after buying an additional 785 shares in the last quarter. Privium Fund Management B.V. grew its stake in Kornit Digital by 8.8% in the 3rd 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 last quarter. Bank of New York Mellon Corp increased its holdings in Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Sei Investments Co. raised its position in Kornit Digital by 0.6% during the second quarter. Sei Investments Co. now owns 206,464 shares of the industrial products company’s stock worth $3,023,000 after acquiring an additional 1,214 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on KRNT. Cantor Fitzgerald started coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price target on the stock. Craig Hallum raised their price target on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley boosted their price target on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC increased their price objective on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays boosted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Kornit Digital has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Kornit Digital Trading Down 1.2 %

Kornit Digital stock opened at $32.10 on Friday. The stock has a fifty day moving average price of $28.24 and a 200 day moving average price of $21.38. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $33.31. The firm has a market capitalization of $1.53 billion, a P/E ratio of -36.48 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s revenue was down 14.3% on a year-over-year basis. As a group, equities analysts predict that Kornit Digital Ltd. will post -0.22 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.