Timpani Capital Management LLC boosted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 40.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,404 shares of the industrial products company’s stock after buying an additional 41,836 shares during the quarter. Timpani Capital Management LLC owned approximately 0.44% of Kornit Digital worth $2,794,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. United Services Automobile Association lifted its stake in shares of Kornit Digital by 256.1% in the 1st quarter. United Services Automobile Association now owns 443,390 shares of the industrial products company’s stock valued at $8,469,000 after purchasing an additional 318,890 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Kornit Digital in the 1st quarter valued at about $3,557,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Kornit Digital in the 1st quarter valued at about $1,627,000. Lebenthal Lisanti Capital Growth LLC lifted its stake in shares of Kornit Digital by 90.0% in the 2nd quarter. Lebenthal Lisanti Capital Growth LLC now owns 46,857 shares of the industrial products company’s stock valued at $907,000 after purchasing an additional 22,197 shares during the period. Finally, Essex Investment Management Co. LLC lifted its stake in shares of Kornit Digital by 100.2% in the 2nd quarter. Essex Investment Management Co. LLC now owns 303,401 shares of the industrial products company’s stock valued at $5,871,000 after purchasing an additional 151,875 shares during the period. 73.83% of the stock is currently owned by hedge funds and other institutional investors.
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KRNT has been the subject of a number of research analyst reports. Craig Hallum initiated coverage on Kornit Digital in a research report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 target price for the company. BidaskClub lowered Kornit Digital from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 target price on shares of Kornit Digital in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, one has given 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.
Shares of Kornit Digital Ltd. (NASDAQ KRNT) traded up 1.11% during mid-day trading on Friday, reaching $18.15. The company’s stock had a trading volume of 204,219 shares. The company has a 50-day moving average of $17.44 and a 200-day moving average of $16.72. The company’s market cap is $612.29 million. Kornit Digital Ltd. has a 12 month low of $8.90 and a 12 month high of $18.50.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The business had revenue of $28.59 million for the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities research analysts forecast that Kornit Digital Ltd. will post $0.42 earnings per share for the current fiscal year.
Kornit Digital Company Profile
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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