Kornit Digital Ltd. – Nasdaq: KRNT
A deal with Amazon (Nasdaq: AMZN) has sent shares of Israel-based Kornit Digital Ltd. shares up over 20%. Kornit Digital Ltd. trades under ticker KRNT on the Nasdaq. Kornit Digital develops, manufactures and markets industrial and commercial printing solutions for the garment, apparel and textile industries. Through the Amazon agreement, Kornit will support Amazon’s production capacity for printed textiles.
Gabi Seligsohn, CEO of Kornit explained the deal “We are excited to have been selected as a garment printing solution provider for Amazon, and look forward to the business potential this relationship represents… Kornit Digital is at the forefront of the digital direct-to-garment market, and we believe that Amazon’s decision is great testament to that. We are deeply committed to the success of our business with Amazon and reiterate our commitment to all of our customers to stay at the forefront of the DTG market and continue to provide them with the most advanced, cost effective production solutions.”
Kornit Digital has had increasing EPS over the last three years – from $0.04 to $0.19. The company has also reported increasing sales over the past four years – from $39.2 million to $86.4 million. All three firms that cover KRNT rate it as a “Strong Buy”.
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|Last Price a/o 11:30 AM EST||$ 16.10|
|Market Cap||$420 million|
|Shares Outstanding||30.13 million|
|Share Float||29.44 million|
|Short Interest Ratio||13.74|