Akerna (NASDAQ:KERN) Issues Earnings Results

Akerna (NASDAQ:KERNGet Rating) released its quarterly earnings results on Monday. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.52), MarketWatch Earnings reports. Akerna had a negative net margin of 161.48% and a negative return on equity of 31.09%. During the same quarter in the prior year, the firm earned ($0.28) earnings per share.

Shares of KERN opened at $0.54 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.62 and a quick ratio of 0.62. The company’s fifty day moving average price is $0.96 and its 200-day moving average price is $1.61. Akerna has a 1-year low of $0.53 and a 1-year high of $5.61. The firm has a market capitalization of $18.48 million, a PE ratio of -0.44 and a beta of 2.60.

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

A number of hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its stake in Akerna by 28.5% during the 2nd quarter. Morgan Stanley now owns 14,362 shares of the company’s stock valued at $58,000 after purchasing an additional 3,182 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Akerna by 167.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 31,049 shares of the company’s stock valued at $54,000 after buying an additional 19,450 shares during the last quarter. Marshall Wace LLP acquired a new position in Akerna in the 4th quarter worth approximately $62,000. LPL Financial LLC raised its position in Akerna by 99.7% during the 3rd quarter. LPL Financial LLC now owns 39,385 shares of the company’s stock worth $111,000 after buying an additional 19,659 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Akerna during the 4th quarter valued at approximately $229,000. Institutional investors own 11.77% of the company’s stock.

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.

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Earnings History for Akerna (NASDAQ:KERN)

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