Kornit Digital (NASDAQ:KRNT) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research note released on Friday morning.

Kornit Digital Stock Down 0.1 %

Shares of KRNT opened at $15.48 on Friday. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $31.94. The firm’s 50 day moving average price is $17.66 and its two-hundred day moving average price is $17.38.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. The company had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. On average, equities analysts forecast that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Trading of Kornit Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP increased its holdings in Kornit Digital by 357.9% during the first quarter. Quarry LP now owns 1,273 shares of the industrial products company’s stock worth $25,000 after buying an additional 995 shares during the last quarter. Allworth Financial LP increased its holdings in Kornit Digital by 9,252.9% during the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,573 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Kornit Digital during the third quarter worth $39,000. Headlands Technologies LLC acquired a new position in Kornit Digital during the third quarter worth $58,000. Finally, UBS Group AG increased its holdings in Kornit Digital by 226.4% during the first quarter. UBS Group AG now owns 3,444 shares of the industrial products company’s stock worth $67,000 after buying an additional 2,389 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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