102,012 Shares in Kornit Digital Ltd. (NASDAQ:KRNT) Purchased by Roubaix Capital LLC

Roubaix Capital LLC purchased a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 102,012 shares of the industrial products company’s stock, valued at approximately $2,635,000. Roubaix Capital LLC owned 0.21% of Kornit Digital as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KRNT. Signaturefd LLC increased its holdings in shares of Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 779 shares during the period. Trust Point Inc. lifted its stake in shares of Kornit Digital by 4.6% in the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 785 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Kornit Digital by 97.9% in the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 1,027 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 1,184 shares during the period. Finally, Sei Investments Co. raised its holdings in Kornit Digital by 0.6% during the second quarter. Sei Investments Co. now owns 206,464 shares of the industrial products company’s stock worth $3,023,000 after purchasing an additional 1,214 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KRNT has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Barclays upped their price target on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 price target on shares of Kornit Digital in a research note on Thursday, September 12th. Craig Hallum increased their price objective on shares of Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Kornit Digital Price Performance

NASDAQ:KRNT opened at $23.63 on Thursday. Kornit Digital Ltd. has a 1-year low of $13.51 and a 1-year high of $26.64. The firm has a 50 day simple moving average of $22.82 and a 200-day simple moving average of $18.03. The firm has a market cap of $1.13 billion, a PE ratio of -19.37 and a beta of 1.92.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The firm had revenue of $48.62 million during the quarter, compared to analyst estimates of $50.24 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. As a group, sell-side analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.