Magnetar Financial LLC Makes New Investment in Kornit Digital Ltd. $KRNT

Magnetar Financial LLC acquired a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,042 shares of the industrial products company’s stock, valued at approximately $439,000.

Several other hedge funds have also recently modified their holdings of KRNT. Fortitude Family Office LLC purchased a new position in Kornit Digital during the second quarter valued at $99,000. Headlands Technologies LLC purchased a new stake in Kornit Digital in the 1st quarter worth $101,000. CHICAGO TRUST Co NA bought a new position in shares of Kornit Digital during the 2nd quarter valued at about $223,000. Bank of New York Mellon Corp grew its position in shares of Kornit Digital by 9.2% during the first quarter. Bank of New York Mellon Corp now owns 13,539 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its holdings in shares of Kornit Digital by 111.7% in the first quarter. Fox Run Management L.L.C. now owns 20,370 shares of the industrial products company’s stock worth $389,000 after purchasing an additional 10,748 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KRNT. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price target (down from $20.00) on shares of Kornit Digital in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kornit Digital in a research report on Wednesday, October 8th. Barclays reduced their price target on shares of Kornit Digital from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Cantor Fitzgerald lowered their price objective on shares of Kornit Digital from $28.50 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Needham & Company LLC lowered their price objective on shares of Kornit Digital from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.75.

Kornit Digital Stock Down 1.4%

Shares of KRNT opened at $12.89 on Tuesday. The business has a fifty day moving average of $13.68 and a 200 day moving average of $17.12. The company has a market cap of $577.41 million, a PE ratio of -51.56 and a beta of 1.94. Kornit Digital Ltd. has a 52-week low of $11.93 and a 52-week high of $34.28.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, November 5th. The industrial products company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $53.13 million for the quarter, compared to the consensus estimate of $51.79 million. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Kornit Digital has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Kornit Digital declared that its Board of Directors has initiated a stock buyback plan on Monday, November 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Kornit Digital

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.