Analysts expect Akerna Corp. (NASDAQ:KERN) to report $5.42 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Akerna’s earnings, with the lowest sales estimate coming in at $5.10 million and the highest estimate coming in at $5.74 million. Akerna reported sales of $4.11 million during the same quarter last year, which indicates a positive year over year growth rate of 31.9%. The firm is expected to issue its next earnings results on Monday, March 28th.
According to Zacks, analysts expect that Akerna will report full year sales of $19.45 million for the current fiscal year, with estimates ranging from $19.10 million to $19.80 million. For the next fiscal year, analysts forecast that the company will post sales of $26.76 million, with estimates ranging from $23.60 million to $29.91 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Akerna.
Several research analysts recently commented on KERN shares. Zacks Investment Research upgraded Akerna from a “sell” rating to a “hold” rating in a research note on Wednesday, February 16th. Alliance Global Partners cut their target price on Akerna from $8.50 to $7.50 and set a “buy” rating for the company in a research report on Tuesday, November 9th. HC Wainwright cut their price objective on Akerna from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 10th. Finally, Oppenheimer started coverage on Akerna in a report on Monday, November 22nd. They issued an “outperform” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.95.
Shares of NASDAQ:KERN opened at $1.27 on Tuesday. The company has a market cap of $39.37 million, a P/E ratio of -1.01 and a beta of 2.48. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. Akerna has a 52 week low of $1.22 and a 52 week high of $7.34. The business has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $2.45.
In other news, Director Matthew Ryan Kane purchased 100,400 shares of the business’s stock in a transaction dated Tuesday, December 14th. The stock was bought at an average price of $2.00 per share, with a total value of $200,800.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. ACT Capital L.L.C. bought a new position in Akerna during the third quarter worth $654,000. Renaissance Technologies LLC bought a new position in shares of Akerna during the fourth quarter valued at about $391,000. GSA Capital Partners LLP bought a new position in shares of Akerna during the third quarter valued at about $475,000. Millennium Management LLC bought a new position in shares of Akerna during the second quarter valued at about $546,000. Finally, Vanguard Group Inc. increased its holdings in Akerna by 11.4% during the second quarter. Vanguard Group Inc. now owns 780,165 shares of the company’s stock worth $3,145,000 after buying an additional 79,788 shares during the last quarter. Hedge funds and other institutional investors own 12.57% of the company’s stock.
Akerna Corp. operates as a technology company. The company offers MJ Platform, an enterprise resource planning system to the cannabis industry; and Leaf Data Systems, a tracking system designed for government agencies. It also provides consulting services to cannabis industry; business intelligence, an infrastructure as a service tool, which delivers supply chain analytics for the cannabis, hemp, and cbd gummies industries; and Last Call Analytics, a subscription analytics tool for alcohol brands to analyze their retail sales analytics.
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