Kornit Digital Ltd. (NASDAQ:KRNT) Shares Bought by Dudley & Shanley Inc.

Dudley & Shanley Inc. increased its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 272,025 shares of the industrial products company’s stock after purchasing an additional 12,500 shares during the quarter. Kornit Digital comprises about 1.3% of Dudley & Shanley Inc.’s investment portfolio, making the stock its 25th biggest holding. Dudley & Shanley Inc.’s holdings in Kornit Digital were worth $8,419,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Kornit Digital during the 2nd quarter worth approximately $40,000. Signaturefd LLC increased its position in shares of Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares during the last quarter. Privium Fund Management B.V. raised its stake in 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 buying an additional 950 shares in the last quarter. Bank of New York Mellon Corp lifted 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 worth $235,000 after buying an additional 1,184 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Kornit Digital by 26.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 3,633 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Stock Down 0.3 %

NASDAQ KRNT traded down $0.10 on Friday, reaching $30.65. 32,827 shares of the stock traded hands, compared to its average volume of 86,189. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.28. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -34.83 and a beta of 2.01. The firm’s fifty day simple moving average is $30.34 and its 200 day simple moving average is $23.03.

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

Analysts Set New Price Targets

KRNT has been the topic of several research analyst reports. Craig Hallum raised their price objective on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays increased their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their target price 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 raised their price target on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald started coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.40.

About Kornit Digital

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.