Falcon Point Capital LLC Boosts Stake in Kornit Digital Ltd. (KRNT)
Falcon Point Capital LLC boosted its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,873 shares of the industrial products company’s stock after buying an additional 2,152 shares during the period. Falcon Point Capital LLC’s holdings in Kornit Digital were worth $1,952,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado purchased a new position in shares of Kornit Digital during the second quarter valued at approximately $101,000. Sei Investments Co. boosted its position in shares of Kornit Digital by 104.3% in the first quarter. Sei Investments Co. now owns 9,111 shares of the industrial products company’s stock valued at $174,000 after buying an additional 4,652 shares during the period. CAPROCK Group Inc. purchased a new position in shares of Kornit Digital during the second quarter valued at approximately $265,000. Winslow Evans & Crocker Inc. purchased a new position in shares of Kornit Digital during the second quarter valued at approximately $273,000. Finally, Credit Suisse AG bought a new position in shares of Kornit Digital during the first quarter worth about $319,000. 63.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) opened at 16.85 on Friday. The firm’s market capitalization is $567.14 million. Kornit Digital Ltd. has a 52 week low of $8.90 and a 52 week high of $23.15. The stock has a 50 day moving average price of $20.02 and a 200-day moving average price of $18.64.
Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $28.59 million during the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. On average, equities research analysts forecast that Kornit Digital Ltd. will post $0.41 earnings per share for the current year.
A number of research analysts have issued reports on KRNT shares. Craig Hallum started coverage on Kornit Digital in a report on Tuesday, July 11th. They set a “buy” rating and a $26.00 price objective for the company. BidaskClub cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday. Canaccord Genuity reissued a “buy” rating and set a $24.00 price objective on shares of Kornit Digital in a report on Tuesday, August 8th. Citigroup Inc. set a $22.00 price objective on Kornit Digital and gave the company a “buy” rating in a report on Tuesday, April 25th. Finally, Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $21.86.
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.
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