Akerna (NASDAQ:KERN) Shares Up 7.1%

Akerna Corp. (NASDAQ:KERN)’s stock price shot up 7.1% during trading on Monday . The stock traded as high as $0.27 and last traded at $0.26. 604,475 shares were traded during mid-day trading, an increase of 81% from the average session volume of 334,193 shares. The stock had previously closed at $0.25.

Akerna Trading Up 7.1 %

The firm’s 50-day moving average price is $0.45 and its 200 day moving average price is $0.65. The company has a market capitalization of $2.06 million, a price-to-earnings ratio of -0.04 and a beta of 2.67.

Akerna (NASDAQ:KERN) last issued its earnings results on Monday, August 14th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.20). The firm had revenue of $2.29 million during the quarter, compared to analyst estimates of $2.66 million. Akerna had a negative net margin of 251.68% and a negative return on equity of 475.50%. As a group, equities research analysts anticipate that Akerna Corp. will post -1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akerna

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vident Investment Advisory LLC grew its holdings in shares of Akerna by 68.1% during the 1st quarter. Vident Investment Advisory LLC now owns 63,163 shares of the company’s stock valued at $72,000 after purchasing an additional 25,595 shares during the last quarter. K2 Principal Fund L.P. bought a new stake in shares of Akerna during the 1st quarter valued at approximately $39,000. Renaissance Technologies LLC grew its holdings in shares of Akerna by 79.8% during the 2nd quarter. Renaissance Technologies LLC now owns 274,300 shares of the company’s stock valued at $38,000 after purchasing an additional 121,700 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Akerna by 133.4% during the 1st quarter. Bank of New York Mellon Corp now owns 307,789 shares of the company’s stock valued at $351,000 after purchasing an additional 175,900 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Akerna by 342.6% during the 3rd quarter. BlackRock Inc. now owns 1,023,825 shares of the company’s stock worth $92,000 after acquiring an additional 792,521 shares during the last quarter. 21.97% of the stock is owned by institutional investors.

Akerna Company Profile

Akerna Corp. provides enterprise software solutions that enable regulatory compliance and inventory management in the 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 retail analytics platform.