Kornit Digital (NASDAQ:KRNT) Shares Up 4.5%

Kornit Digital Ltd (NASDAQ:KRNT) shot up 4.5% on Friday . The stock traded as high as $30.15 and last traded at $31.46. 29,245 shares were traded during mid-day trading, a decline of 95% from the average session volume of 553,878 shares. The stock had previously closed at $30.10.

Several research firms have weighed in on KRNT. Zacks Investment Research cut Kornit Digital from a “hold” rating to a “strong sell” rating in a report on Thursday. BidaskClub upgraded Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 18th. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. TheStreet cut Kornit Digital from a “b” rating to a “c+” rating in a research note on Tuesday, May 28th. Finally, Stifel Nicolaus raised their target price on Kornit Digital from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.67.

The stock has a market cap of $1.28 billion, a P/E ratio of 158.30 and a beta of 1.03. The company has a current ratio of 2.94, a quick ratio of 2.04 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $27.69.

Kornit Digital (NASDAQ:KRNT) last released its earnings results 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 firm had revenue of $38.20 million during the quarter, compared to analysts’ expectations of $37.97 million. Kornit Digital had a net margin of 6.88% and a return on equity of 4.27%. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, research analysts predict that Kornit Digital Ltd will post 0.42 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. PRW Wealth Management LLC purchased a new position in shares of Kornit Digital in the 4th quarter valued at approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kornit Digital by 31.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,752 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 419 shares during the period. Legal & General Group Plc lifted its stake in shares of Kornit Digital by 70.7% in the 4th quarter. Legal & General Group Plc now owns 2,296 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 951 shares during the period. Stephens Inc. AR purchased a new position in shares of Kornit Digital in the 1st quarter valued at approximately $54,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Kornit Digital during the 1st quarter valued at approximately $165,000. Institutional investors own 95.59% of the company’s stock.

Kornit Digital Company Profile (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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