Kornit Digital (NASDAQ:KRNT) Sets New 1-Year Low at $69.79

Kornit Digital Ltd. (NASDAQ:KRNTGet Rating) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $69.79 and last traded at $69.79, with a volume of 3117 shares trading hands. The stock had previously closed at $73.00.

Several equities analysts have recently issued reports on KRNT shares. Zacks Investment Research downgraded shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Wednesday, January 26th. StockNews.com started coverage on shares of Kornit Digital in a report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $202.00 price target on shares of Kornit Digital in a report on Thursday, December 23rd. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $183.20.

The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 221.22 and a beta of 1.87. The firm’s fifty day moving average is $84.71 and its two-hundred day moving average is $121.65.

Kornit Digital (NASDAQ:KRNTGet Rating) last issued its quarterly earnings results on Tuesday, February 15th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). Kornit Digital had a return on equity of 3.51% and a net margin of 4.82%. The business had revenue of $95.40 million during the quarter, compared to the consensus estimate of $89.99 million. During the same quarter last year, the firm posted $0.19 earnings per share. Kornit Digital’s revenue was up 28.7% compared to the same quarter last year. As a group, research analysts predict that Kornit Digital Ltd. will post 0.77 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its position in Kornit Digital by 5.2% in the fourth quarter. Invesco Ltd. now owns 2,236,546 shares of the industrial products company’s stock worth $340,514,000 after acquiring an additional 111,301 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Kornit Digital by 0.8% in the third quarter. Artisan Partners Limited Partnership now owns 1,960,721 shares of the industrial products company’s stock worth $283,795,000 after acquiring an additional 16,478 shares in the last quarter. BlackRock Inc. raised its holdings in Kornit Digital by 56.3% during the 4th quarter. BlackRock Inc. now owns 1,736,625 shares of the industrial products company’s stock worth $264,402,000 after buying an additional 625,255 shares during the period. Macquarie Group Ltd. raised its holdings in Kornit Digital by 14.2% during the 3rd quarter. Macquarie Group Ltd. now owns 1,139,513 shares of the industrial products company’s stock worth $164,933,000 after buying an additional 142,048 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Kornit Digital by 192.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,043,608 shares of the industrial products company’s stock worth $158,889,000 after buying an additional 686,870 shares during the period. Hedge funds and other institutional investors own 92.04% of the company’s stock.

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 worldwide. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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