Akerna Corp. (NASDAQ:KERN) Expected to Announce Quarterly Sales of $5.96 Million

Wall Street brokerages expect Akerna Corp. (NASDAQ:KERN – Get Rating) to post sales of $5.96 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Akerna’s earnings. The lowest sales estimate is $5.30 million and the highest is $6.62 million. Akerna posted sales of $4.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 48.6%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Akerna will report full year sales of $26.70 million for the current financial year, with estimates ranging from $25.20 million to $28.20 million. For the next year, analysts expect that the business will report sales of $33.06 million, with estimates ranging from $32.10 million to $34.02 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Akerna.

Akerna (NASDAQ:KERN – Get Rating) last issued its earnings results on Monday, March 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The firm had revenue of $6.63 million during the quarter, compared to the consensus estimate of $5.42 million. Akerna had a negative return on equity of 31.09% and a negative net margin of 161.48%. During the same period in the prior year, the company posted ($0.29) EPS.

Several research analysts have commented on KERN shares. Zacks Investment Research downgraded shares of Akerna from a “hold” rating to a “sell” rating in a report on Tuesday, March 22nd. Alliance Global Partners lowered their price target on shares of Akerna from $5.00 to $2.50 in a report on Tuesday, March 22nd. HC Wainwright lowered their price target on shares of Akerna from $5.00 to $2.50 and set a “buy” rating for the company in a report on Friday, February 25th. Finally, Lake Street Capital downgraded shares of Akerna from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.45.

Shares of Akerna stock opened at $0.75 on Tuesday. The company has a market capitalization of $25.69 million, a P/E ratio of -0.61 and a beta of 2.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $1.07 and a 200 day moving average of $1.77. Akerna has a fifty-two week low of $0.72 and a fifty-two week high of $5.61.

A number of institutional investors have recently bought and sold shares of KERN. Morgan Stanley raised its position in Akerna by 28.5% in the 2nd quarter. Morgan Stanley now owns 14,362 shares of the company’s stock worth $58,000 after purchasing an additional 3,182 shares during the period. Millennium Management LLC purchased a new stake in Akerna in the 2nd quarter worth about $546,000. Lindbrook Capital LLC raised its position in Akerna by 28.7% in the 3rd quarter. Lindbrook Capital LLC now owns 161,400 shares of the company’s stock worth $455,000 after purchasing an additional 36,000 shares during the period. Scotia Capital Inc. raised its position in Akerna by 109.5% in the 3rd quarter. Scotia Capital Inc. now owns 43,634 shares of the company’s stock worth $123,000 after purchasing an additional 22,811 shares during the period. Finally, Vident Investment Advisory LLC purchased a new stake in Akerna in the 3rd quarter worth about $84,000. 12.57% of the stock is currently owned by institutional investors.

About Akerna (Get Rating)

Akerna Corp. provides enterprise software solutions that enable regulatory compliance and inventory management in United States and Canada. The company offers MJ Platform for the cannabis, hemp, and CBD industry; and Leaf Data Systems, a government regulatory software. It also provides consulting services to cannabis industry; business intelligence, data analytics and other software related services; and Last Call Analytics, a tool for alcohol brands to analyze their retail sales analytics.

See Also