Kornit Digital (NASDAQ:KRNT) Trading Down 4.9% – Should You Sell?

Kornit Digital Ltd. (NASDAQ:KRNT)’s share price traded down 4.9% during trading on Tuesday . The stock traded as low as $21.18 and last traded at $21.20. 45,190 shares changed hands during trading, a decline of 85% from the average session volume of 297,231 shares. The stock had previously closed at $22.29.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC increased their price objective on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Kornit Digital Stock Down 7.0 %

The firm has a market cap of $985.75 million, a price-to-earnings ratio of -59.23 and a beta of 2.12. The stock’s 50 day moving average is $26.27 and its 200 day moving average is $27.33.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN boosted its stake in shares of Kornit Digital by 2.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after acquiring an additional 53,257 shares in the last quarter. Riverbridge Partners LLC boosted its position in shares of Kornit Digital by 21.1% in the 4th 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. Stephens Investment Management Group LLC increased its stake in Kornit Digital by 4.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after purchasing an additional 57,068 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Kornit Digital by 259.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after buying an additional 893,463 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in Kornit Digital by 47.2% during the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after buying an additional 352,648 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.