Kornit Digital Ltd. (Nasdaq: KRNT) Up on Amazon Deal

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”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/11/2017
Ticker Symbol KRNT
Last Price a/o 11:30 AM EST  $                    16.10
Average Volume 73,000
Market Cap $420 million
Sales $102 million
Shares Outstanding 30.13 million
Share Float 29.44 million
Shortable Yes
Optionable No
Inside Ownership
Short Float 3.40%
Short Interest Ratio 13.74
Quarterly Return 38.39%
YTD Return 10.28%
Year Return 33.37%

Author: Marcus Anderson

Marc Anderson is a pseudonym. Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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