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.
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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.
Institutional Ownership:
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.
Analysts Ratings:
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.
