Blair William & Co. IL Grows Holdings in Kornit Digital Ltd. $KRNT

Blair William & Co. IL increased its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 519,574 shares of the industrial products company’s stock after buying an additional 84,593 shares during the period. Blair William & Co. IL owned about 1.09% of Kornit Digital worth $10,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of Kornit Digital in the 2nd quarter worth about $99,000. CHICAGO TRUST Co NA acquired a new stake in Kornit Digital during the second quarter worth about $223,000. Moody National Bank Trust Division raised its stake in Kornit Digital by 13.5% during the second quarter. Moody National Bank Trust Division now owns 134,883 shares of the industrial products company’s stock worth $2,686,000 after acquiring an additional 16,000 shares during the period. Silverberg Bernstein Capital Management LLC raised its stake in Kornit Digital by 41.5% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 240,757 shares of the industrial products company’s stock worth $4,793,000 after acquiring an additional 70,637 shares during the period. Finally, Dudley & Shanley Inc. raised its stake in Kornit Digital by 98.4% during the second quarter. Dudley & Shanley Inc. now owns 637,300 shares of the industrial products company’s stock worth $12,689,000 after acquiring an additional 316,150 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KRNT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kornit Digital in a research note on Wednesday. Needham & Company LLC dropped their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Barclays set a $22.00 price target on shares of Kornit Digital and gave the company an “equal weight” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Kornit Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.40.

Kornit Digital Stock Up 0.8%

KRNT opened at $13.54 on Friday. The stock has a fifty day moving average of $14.79 and a 200-day moving average of $18.19. The firm has a market capitalization of $606.46 million, a P/E ratio of -54.16 and a beta of 1.90. Kornit Digital Ltd. has a 12-month low of $12.78 and a 12-month high of $34.28.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The company had revenue of $49.75 million during the quarter, compared to the consensus estimate of $52.07 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

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.