Bank of New York Mellon Corp trimmed its holdings in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,754 shares of the industrial products company’s stock after selling 9,327 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Kornit Digital worth $13,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in KRNT. Synovus Financial Corp purchased a new stake in Kornit Digital during the 2nd quarter valued at about $41,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Kornit Digital by 222.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 991 shares of the industrial products company’s stock worth $53,000 after buying an additional 684 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Kornit Digital in the first quarter worth about $32,000. Tower Research Capital LLC TRC purchased a new stake in shares of Kornit Digital in the first quarter worth about $32,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Kornit Digital in the first quarter worth about $45,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

A number of analysts have recently commented on KRNT shares. Craig Hallum upped their target price on Kornit Digital from $34.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Needham & Company LLC upped their price target on Kornit Digital from $60.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Zacks Investment Research cut Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Citigroup upped their price target on Kornit Digital from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Finally, BidaskClub cut Kornit Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.00.

Shares of Kornit Digital stock opened at $60.08 on Wednesday. The business has a 50 day simple moving average of $58.65 and a two-hundred day simple moving average of $44.12. Kornit Digital Ltd has a 12 month low of $22.17 and a 12 month high of $65.91. The stock has a market capitalization of $2.46 billion, a P/E ratio of -300.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.06 and a quick ratio of 5.89.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Tuesday, August 11th. The industrial products company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Kornit Digital had a negative return on equity of 2.09% and a negative net margin of 5.05%. The business had revenue of $37.44 million during the quarter, compared to analysts’ expectations of $34.65 million. As a group, research analysts anticipate that Kornit Digital Ltd will post -0.11 EPS 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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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Institutional Ownership by Quarter for Kornit Digital (NASDAQ:KRNT)

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