Kornit Digital (KRNT) Downgraded to Sell at BidaskClub

Kornit Digital (NASDAQ:KRNT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other research firms also recently issued reports on KRNT. Barclays set a $17.00 price objective on Kornit Digital and gave the stock a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded Kornit Digital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Craig Hallum reduced their price objective on Kornit Digital from $20.00 to $26.00 in a report on Thursday, September 28th. Needham & Company LLC reduced their price objective on Kornit Digital from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price objective (down previously from $24.00) on shares of Kornit Digital in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.67.

Shares of Kornit Digital (KRNT) opened at $16.15 on Thursday. The company has a market capitalization of $544.79 and a P/E ratio of 83.75. Kornit Digital has a 12-month low of $12.05 and a 12-month high of $23.15.

Several hedge funds have recently bought and sold shares of the company. Granahan Investment Management Inc. MA lifted its stake in shares of Kornit Digital by 61.0% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,969,554 shares of the industrial products company’s stock valued at $30,134,000 after purchasing an additional 746,240 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Kornit Digital in the 3rd quarter valued at $8,850,000. Grandeur Peak Global Advisors LLC lifted its stake in shares of Kornit Digital by 20.4% in the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 89,560 shares of the industrial products company’s stock valued at $1,370,000 after purchasing an additional 15,175 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Kornit Digital in the 3rd quarter valued at $335,000. Finally, Granite Point Capital Management L.P. acquired a new position in shares of Kornit Digital in the 3rd quarter valued at $1,224,000. 78.84% of the stock is currently owned by institutional investors.

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About Kornit Digital

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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