Kornit Digital Ltd (NASDAQ: KRNT) stock jumped 3.71% on Friday to $18.75 against a previous-day closing price of $18.08. With 0.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.46 million shares. The 52-week range on KRNT shows that it touched its highest point at $31.94 and its lowest point at $13.29 during that stretch. It currently has a 1-year price target of $26.17. Beta for the stock currently stands at 1.87.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KRNT was up-trending over the past week, with a rise of 16.90%, but this was up by 26.35% over a month. Three-month performance dropped to -13.75% while six-month performance fell -17.94%. The stock lost -31.14% in the past year, while it has lost -18.37% so far this year. A look at the trailing 12-month EPS for KRNT yields -1.54 with Next year EPS estimates of 0.11. For the next quarter, that number is 0.00. This implies an EPS growth rate of 22.64% for this year and 122.16% for next year. EPS is expected to decline by -2.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -92.55%.
Float and Shares Shorts:
At present, 50.00 million KRNT shares are outstanding with a float of 49.95 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.74 million, which was 1.51% higher than short shares on Sep 28, 2023. In addition to Mr. Ronen Samuel as the firm’s CEO & Director, Mr. Kobi Mann serves as its Chief Technology Officer.
Through their ownership of 92.41% of KRNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.75% of KRNT, in contrast to 31.07% held by mutual funds. As the largest shareholder in KRNT with 8.74% of the stake, Senvest Management LLC holds 4,371,160 shares worth 4,371,160. A second-largest stockholder of KRNT, Artisan Partners LP, holds 4,295,641 shares, controlling over 8.59% of the firm’s shares. Morgan Stanley & Co. LLC is the third largest shareholder in KRNT, holding 2,798,413 shares or 5.60% stake. With a 4.76% stake in KRNT, the Artisan International Small-Mid F is the largest stakeholder. A total of 2,380,400 shares are owned by the mutual fund manager. The Wasatch Small Cap Growth Fund, which owns about 1.64% of KRNT stock, is the second-largest Mutual Fund holder. It holds 821,290 shares valued at 11.33 million. JNL Multi-Manager Small Cap Growt holds 1.46% of the stake in KRNT, owning 730,180 shares worth 10.08 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KRNT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With KRNT analysts setting a high price target of $37.00 and a low target of $21.00, the average target price over the next 12 months is $26.17. Based on these targets, KRNT could surge 97.33% to reach the target high and rise by 12.0% to reach the target low. Reaching the average price target will result in a growth of 39.57% from current levels.