Tectonic Advisors LLC Decreases Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Tectonic Advisors LLC reduced its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 74.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,894 shares of the industrial products company’s stock after selling 20,381 shares during the period. Tectonic Advisors LLC’s holdings in Kornit Digital were worth $213,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Chicago Capital LLC lifted its stake in Kornit Digital by 8.1% during the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after acquiring an additional 231,659 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in shares of Kornit Digital by 2.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after purchasing an additional 53,257 shares during the last quarter. Riverbridge Partners LLC lifted its position in Kornit Digital by 21.1% during the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after purchasing an additional 335,713 shares during the period. Artemis Investment Management LLP lifted its position in Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock valued at $19,867,000 after purchasing an additional 372,443 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its holdings in Kornit Digital by 35.7% in the third quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company’s stock valued at $16,045,000 after purchasing an additional 163,543 shares during the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Trading Down 0.5 %

Shares of KRNT stock opened at $29.39 on Friday. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.28. The business’s 50 day moving average is $30.86 and its two-hundred day moving average is $25.60. The company has a market capitalization of $1.40 billion, a P/E ratio of -33.40 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KRNT. Needham & Company LLC lifted 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. Morgan Stanley boosted their price target on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Cantor Fitzgerald started coverage on Kornit Digital in a research report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, Craig Hallum lifted their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.40.

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.