Meitav Investment House Ltd. Has $770,000 Stake in Kornit Digital Ltd. $KRNT

Meitav Investment House Ltd. trimmed its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 94.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,000 shares of the industrial products company’s stock after selling 824,015 shares during the period. Meitav Investment House Ltd. owned about 0.12% of Kornit Digital worth $770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of Kornit Digital by 6.9% in the 4th quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 820 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Kornit Digital by 11.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kornit Digital during the 2nd quarter valued at about $31,000. State of Tennessee Department of Treasury acquired a new position in Kornit Digital in the second quarter valued at about $35,000. Finally, CIBC Private Wealth Group LLC grew its stake in Kornit Digital by 1,359.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock worth $26,000 after buying an additional 1,795 shares during the last quarter. 92.76% of the stock is owned by institutional investors.

Kornit Digital Stock Performance

Shares of KRNT opened at $15.49 on Wednesday. The business’s fifty day moving average price is $15.80 and its two-hundred day moving average price is $15.17. The firm has a market capitalization of $693.80 million, a price-to-earnings ratio of -39.72 and a beta of 1.73. Kornit Digital Ltd. has a 52 week low of $11.93 and a 52 week high of $22.06.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $48.54 million during the quarter, compared to the consensus estimate of $46.67 million. Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. As a group, research analysts forecast that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

KRNT has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Needham & Company LLC raised their price target on Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kornit Digital presently has a consensus rating of “Hold” and an average price target of $21.00.

Kornit Digital Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.