Kornit Digital Ltd (NASDAQ: KRNT)’s stock price has dropped by -8.94 in relation to previous closing price of 16.67. Nevertheless, the company has seen a loss of -2.00% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-17 that ROSH-HA`AYIN, Israel, April 17, 2024 (GLOBE NEWSWIRE) — Kornit Digital Ltd. (“Kornit” or the “Company”) (Nasdaq: KRNT), a worldwide market leader in sustainable, on-demand, digital fashionX and textile production technologies, announced today that it will release its financial results for the first quarter ended March 31, 2024, on Wednesday, May 8, 2024, prior to the market open.
Is It Worth Investing in Kornit Digital Ltd (NASDAQ: KRNT) Right Now?
KRNT has 36-month beta value of 1.94. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for KRNT is 47.65M, and currently, short sellers hold a 1.64% ratio of that float. The average trading volume of KRNT on May 09, 2024 was 430.42K shares.
KRNT’s Market Performance
KRNT’s stock has seen a -2.00% decrease for the week, with a -8.77% drop in the past month and a -12.15% fall in the past quarter. The volatility ratio for the week is 5.31%, and the volatility levels for the past 30 days are at 3.84% for Kornit Digital Ltd. The simple moving average for the past 20 days is -4.27% for KRNT’s stock, with a -18.73% simple moving average for the past 200 days.
Analysts’ Opinion of KRNT
Many brokerage firms have already submitted their reports for KRNT stocks, with Craig Hallum repeating the rating for KRNT by listing it as a “Buy.” The predicted price for KRNT in the upcoming period, according to Craig Hallum is $23 based on the research report published on November 09, 2023 of the previous year 2023.
Morgan Stanley, on the other hand, stated in their research note that they expect to see KRNT reach a price target of $29. The rating they have provided for KRNT stocks is “Overweight” according to the report published on August 10th, 2023.
Barclays gave a rating of “Equal Weight” to KRNT, setting the target price at $28 in the report published on February 16th of the previous year.
KRNT Trading at -10.41% from the 50-Day Moving Average
After a stumble in the market that brought KRNT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.47% of loss for the given period.
Volatility was left at 3.84%, however, over the last 30 days, the volatility rate increased by 5.31%, as shares sank -5.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.82% lower at present.
During the last 5 trading sessions, KRNT fell by -2.00%, which changed the moving average for the period of 200-days by -46.42% in comparison to the 20-day moving average, which settled at $15.81. In addition, Kornit Digital Ltd saw -20.77% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for KRNT
Current profitability levels for the company are sitting at:
- -0.31 for the present operating margin
- 0.36 for the gross margin
The net margin for Kornit Digital Ltd stands at -0.29. The total capital return value is set at -0.08. Equity return is now at value -7.16, with -6.55 for asset returns.
Based on Kornit Digital Ltd (KRNT), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -1.47. The debt to equity ratio resting at 0.03. The interest coverage ratio of the stock is 12.67.
Currently, EBITDA for the company is -64.42 million with net debt to EBITDA at 0.3. When we switch over and look at the enterprise to sales, we see a ratio of 3.22. The receivables turnover for the company is 2.35for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 13.45.
Conclusion
To put it simply, Kornit Digital Ltd (KRNT) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
