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

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

Kornit Digital Stock Performance

Shares of NASDAQ:KRNT opened at $15.48 on Friday. Kornit Digital has a 52 week low of $13.29 and a 52 week high of $31.94. The firm has a 50 day simple moving average of $17.66 and a 200 day simple moving average of $17.38.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The business had revenue of $56.59 million during the quarter, compared to the consensus estimate of $57.35 million. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. As a group, analysts expect that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC increased its stake in Kornit Digital by 47.3% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 201,431 shares of the industrial products company’s stock valued at $3,650,000 after buying an additional 64,718 shares during the period. Dudley & Shanley Inc. increased its stake in Kornit Digital by 47.2% in the 1st quarter. Dudley & Shanley Inc. now owns 153,400 shares of the industrial products company’s stock valued at $2,780,000 after buying an additional 49,180 shares during the period. Wasatch Advisors LP increased its stake in Kornit Digital by 6.7% in the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after buying an additional 114,372 shares during the period. Thompson Investment Management Inc. increased its stake in Kornit Digital by 13.6% in the 1st quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company’s stock valued at $9,482,000 after buying an additional 62,607 shares during the period. Finally, Silverberg Bernstein Capital Management LLC increased its stake in Kornit Digital by 1.3% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock valued at $2,125,000 after buying an additional 1,550 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

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