Kornit Digital Ltd. [KRNT] Is Currently -33.29 below its 200 Period Moving Avg: What Does This Mean?

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Kornit Digital Ltd. [NASDAQ: KRNT] price plunged by -33.29 percent to reach at -$18.78. The company report on May 11, 2022 that Kornit Digital Reports First Quarter 2022 Results.

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First quarter revenues of $83.3 million, net of non-cash warrants impact of $8.0 million; up 26% year-over-year.

First quarter GAAP operating loss of $6.9 million; Non-GAAP operating loss of $0.7 million, net of $8.0 million attributed to the non-cash impact of warrants.

A sum of 5154215 shares traded at recent session while its average daily volume was at 450.84K shares. Kornit Digital Ltd. shares reached a high of $40.535 and dropped to a low of $31.01 until finishing in the latest session at $37.63.

The one-year KRNT stock forecast points to a potential upside of 75.36. The average equity rating for KRNT stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Kornit Digital Ltd. [KRNT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KRNT shares is $152.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KRNT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Kornit Digital Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 23, 2021. While these analysts kept the previous recommendation, Needham raised their target price from $125 to $142. The new note on the price target was released on July 22, 2021, representing the official price target for Kornit Digital Ltd. stock. Previously, the target price had yet another raise to $147, while Berenberg analysts kept a Buy rating on KRNT stock. On February 17, 2021, analysts increased their price target for KRNT shares from 83 to 135.

The Average True Range (ATR) for Kornit Digital Ltd. is set at 6.61, with the Price to Sales ratio for KRNT stock in the period of the last 12 months amounting to 5.99. The Price to Book ratio for the last quarter was 2.03, with the Price to Cash per share for the same quarter was set at 12.66. Price to Free Cash Flow for KRNT in the course of the last twelve months was 49.33 with Quick ratio for the last quarter at 7.40.

KRNT Stock Performance Analysis:

Kornit Digital Ltd. [KRNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -48.60. With this latest performance, KRNT shares dropped by -48.96% in over the last four-week period, additionally sinking by -76.48% over the last 6 months – not to mention a drop of -58.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KRNT stock in for the last two-week period is set at 20.94, with the RSI for the last a single of trading hit 15.62, and the three-weeks RSI is set at 25.31 for Kornit Digital Ltd. [KRNT]. The present Moving Average for the last 50 days of trading for this stock 75.33, while it was recorded at 56.25 for the last single week of trading, and 120.17 for the last 200 days.

Insight into Kornit Digital Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Kornit Digital Ltd. [KRNT] shares currently have an operating margin of -4.25 and a Gross Margin at +42.65. Kornit Digital Ltd.’s Net Margin is presently recorded at +5.23.

Return on Equity for this stock inclined to 2.16, with Return on Assets sitting at 1.86.

Kornit Digital Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 8.00.

Kornit Digital Ltd. [KRNT] Insider Position Details

There are presently around $2,598 million, or 96.70% of KRNT stock, in the hands of institutional investors. The top three institutional holders of KRNT stocks are: WASATCH ADVISORS INC with ownership of 3,419,521, which is approximately -16.504% of the company’s market cap and around 0.54% of the total institutional ownership; AMERIPRISE FINANCIAL INC, holding 2,256,169 shares of the stock with an approximate value of $127.27 million in KRNT stocks shares; and INVESCO LTD., currently with $126.16 million in KRNT stock with ownership of nearly 5.237% of the company’s market capitalization.

Positions in Kornit Digital Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 149 institutional holders increased their position in Kornit Digital Ltd. [NASDAQ:KRNT] by around 7,854,452 shares. Additionally, 141 investors decreased positions by around 5,660,436 shares, while 30 investors held positions by with 32,539,825 shares. The mentioned changes placed institutional holdings at 46,054,713 shares, according to the latest SEC report filing. KRNT stock had 59 new institutional investments in for a total of 1,870,815 shares, while 52 institutional investors sold positions of 1,962,760 shares during the same period.