AWM Investment Company Inc. purchased a new position in Kornit Digital Ltd. (NASDAQ:KRNT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 199,177 shares of the industrial products company’s stock, valued at approximately $3,804,000. AWM Investment Company Inc. owned approximately 0.59% of Kornit Digital at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Royce & Associates LP boosted its position in shares of Kornit Digital by 940.0% in the fourth quarter. Royce & Associates LP now owns 260,000 shares of the industrial products company’s stock worth $3,289,000 after buying an additional 235,000 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Kornit Digital by 1,102.8% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 204,471 shares of the industrial products company’s stock valued at $2,587,000 after buying an additional 187,471 shares during the period. Renaissance Technologies LLC acquired a new position in Kornit Digital during the fourth quarter valued at $218,000. Boothbay Fund Management LLC acquired a new position in Kornit Digital during the fourth quarter valued at $247,000. Finally, Russell Investments Group Ltd. acquired a new position in Kornit Digital during the first quarter valued at $3,557,000. 58.69% of the stock is currently owned by hedge funds and other institutional investors.
Kornit Digital Ltd. (KRNT) remained flat at $19.65 during mid-day trading on Tuesday. 424,520 shares of the company traded hands. Kornit Digital Ltd. has a 52-week low of $8.48 and a 52-week high of $23.15. The stock’s market cap is $641.73 million. The stock has a 50 day moving average price of $19.26 and a 200 day moving average price of $17.17.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, May 9th. The industrial products company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $27.10 million during the quarter, compared to the consensus estimate of $29.20 million. Kornit Digital had a positive return on equity of 5.95% and a negative net margin of 0.60%. Kornit Digital’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, equities research analysts forecast that Kornit Digital Ltd. will post $0.43 earnings per share for the current fiscal year.
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Several equities analysts have weighed in on KRNT shares. Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. William Blair reiterated an “outperform” rating on shares of Kornit Digital in a report on Friday, March 24th. Citigroup Inc. set a $22.00 target price on Kornit Digital and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, Barclays PLC boosted their target price on Kornit Digital from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.50.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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