Kornitzer Capital Management Inc. KS Has $9.62 Million Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Kornitzer Capital Management Inc. KS lessened its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 372,205 shares of the industrial products company’s stock after selling 67,955 shares during the period. Kornitzer Capital Management Inc. KS owned 0.78% of Kornit Digital worth $9,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. acquired a new position in Kornit Digital during the 3rd quarter worth $934,000. Harbor Capital Advisors Inc. lifted its position in Kornit Digital by 74.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 140,071 shares of the industrial products company’s stock worth $3,619,000 after acquiring an additional 59,605 shares during the last quarter. Roubaix Capital LLC acquired a new position in Kornit Digital during the 3rd quarter worth $2,635,000. Tectonic Advisors LLC acquired a new position in Kornit Digital during the 3rd quarter worth $705,000. Finally, Assenagon Asset Management S.A. lifted its position in Kornit Digital by 238.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock worth $2,332,000 after acquiring an additional 63,629 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Up 3.5 %

NASDAQ KRNT opened at $30.42 on Friday. The stock has a market cap of $1.45 billion, a P/E ratio of -29.53 and a beta of 1.93. The company’s 50-day simple moving average is $23.62 and its 200 day simple moving average is $18.46. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $31.19.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Research analysts anticipate that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KRNT shares. Barclays boosted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Needham & Company LLC boosted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum boosted their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.00.

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.