Akerna (NASDAQ:KERN) PT Lowered to $1.50 at HC Wainwright

Akerna (NASDAQ:KERNGet Rating) had its target price reduced by stock analysts at HC Wainwright from $2.50 to $1.50 in a report issued on Wednesday, The Fly reports. HC Wainwright’s price target would suggest a potential upside of 226.09% from the company’s previous close.

Several other analysts have also issued reports on KERN. Lake Street Capital lowered shares of Akerna from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Zacks Investment Research downgraded Akerna from a “hold” rating to a “sell” rating in a research report on Tuesday, March 22nd. Finally, Alliance Global Partners dropped their target price on Akerna from $5.00 to $2.50 in a research report on Tuesday, March 22nd. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.25.

Shares of KERN opened at $0.46 on Wednesday. The firm has a market cap of $15.85 million, a P/E ratio of -0.38 and a beta of 2.60. Akerna has a 12-month low of $0.44 and a 12-month high of $5.61. The company’s 50-day moving average price is $0.95 and its 200 day moving average price is $1.60. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.07.

Akerna (NASDAQ:KERNGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.52). Akerna had a negative net margin of 161.48% and a negative return on equity of 31.09%. During the same quarter in the previous year, the business earned ($0.28) earnings per share. Equities research analysts forecast that Akerna will post -0.62 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Levin Capital Strategies L.P. boosted its holdings in Akerna by 115.4% in the first quarter. Levin Capital Strategies L.P. now owns 37,330 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 19,450 shares in the last quarter. Marshall Wace LLP acquired a new position in Akerna in the fourth quarter valued at approximately $62,000. Millennium Management LLC acquired a new position in Akerna in the fourth quarter valued at approximately $229,000. Finally, ETF Managers Group LLC boosted its holdings in Akerna by 419.3% in the fourth quarter. ETF Managers Group LLC now owns 35,782 shares of the company’s stock valued at $65,000 after purchasing an additional 28,891 shares in the last quarter. 11.77% of the stock is owned by hedge funds and other institutional investors.

Akerna Company Profile (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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