Kornit Digital (NASDAQ:KRNT) Reaches New 52-Week High at $30.13

Kornit Digital Ltd (NASDAQ:KRNT) shares hit a new 52-week high on Thursday . The company traded as high as $30.13 and last traded at $30.10, with a volume of 535090 shares changing hands. The stock had previously closed at $28.23.

A number of research analysts have weighed in on the stock. BidaskClub raised shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 18th. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. Finally, TheStreet lowered shares of Kornit Digital from a “b” rating to a “c+” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $25.67.

The company has a 50-day simple moving average of $27.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.04 and a current ratio of 2.94. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 150.50 and a beta of 1.03.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Monday, May 13th. The industrial products company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.03). The business had revenue of $38.20 million during the quarter, compared to the consensus estimate of $37.97 million. Kornit Digital had a return on equity of 4.27% and a net margin of 6.88%. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. On average, research analysts predict that Kornit Digital Ltd will post 0.42 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in KRNT. Pembroke Management LTD bought a new stake in shares of Kornit Digital in the first quarter worth $14,065,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Kornit Digital by 22.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,610,128 shares of the industrial products company’s stock worth $48,862,000 after buying an additional 476,606 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Kornit Digital during the fourth quarter worth $5,290,000. Global Alpha Capital Management Ltd. acquired a new position in Kornit Digital during the fourth quarter worth $4,822,000. Finally, Wasatch Advisors Inc. increased its holdings in Kornit Digital by 41.2% during the first quarter. Wasatch Advisors Inc. now owns 799,339 shares of the industrial products company’s stock worth $19,024,000 after buying an additional 233,397 shares during the last quarter. 95.59% of the stock is currently owned by institutional investors and hedge funds.

About Kornit Digital (NASDAQ:KRNT)

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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