Akerna Corp. [NASDAQ: KERN] gained 7.06% or 0.32 points to close at $4.85 with a heavy trading volume of 5536414 shares. The company report on June 4, 2021 that Akerna Flash Report: Memorial Day Weekend brings in over $234,300,000 of cannabis sales.
Sales peaked on Friday, May 28th, as Americans prepared for the long holiday weekend.
Business intelligence from Akerna (Nasdaq: KERN), an enterprise software, leading compliance technology provider, and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), shows that Friday, May 28th – the start of Memorial Day weekend – was the third-largest sales day for medical and adult-use cannabis in 2021, with nearly $87,000,000 in sales. 420, an unofficial marijuana holiday, was the highest sales day of the year so far, grossing over $111,000,000, followed by over $89,000,000 on St. Patrick’s Day, which was also the date that stimulus checks landed in most qualifying American’s accounts.
It opened the trading session at $4.43, the shares rose to $5.61 and dropped to $4.43, the range by which the price of stock traded the whole day. The daily chart for KERN points out that the company has recorded 36.24% gains over the past six months. However, it is still -123.5% lower than its most recent low trading price.
If we look at the average trading volume of 1.39M shares, KERN reached to a volume of 5536414 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Akerna Corp. [KERN]:
Alliance Global Partners have made an estimate for Akerna Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 19, 2019.
The Average True Range (ATR) for Akerna Corp. is set at 0.42, with the Price to Sales ratio for KERN stock in the period of the last 12 months amounting to 8.13. The Price to Book ratio for the last quarter was 2.29, with the Price to Cash per share for the same quarter was set at 0.62.
Trading performance analysis for KERN stock
Akerna Corp. [KERN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.54. With this latest performance, KERN shares gained by 42.65% in over the last four-week period, additionally plugging by 36.24% over the last 6 months – not to mention a drop of -52.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KERN stock in for the last two-week period is set at 63.66, with the RSI for the last a single of trading hit 70.06, and the three-weeks RSI is set at 58.48 for Akerna Corp. [KERN]. The present Moving Average for the last 50 days of trading for this stock 4.15, while it was recorded at 4.42 for the last single week of trading, and 4.58 for the last 200 days.
Akerna Corp. [KERN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Akerna Corp. [KERN] shares currently have an operating margin of -113.70 and a Gross Margin at +57.56. Akerna Corp.’s Net Margin is presently recorded at -112.70.
Return on Total Capital for KERN is now -30.98, given the latest momentum, and Return on Invested Capital for the company is -30.70. Return on Equity for this stock declined to -30.70, with Return on Assets sitting at -29.66.
Reflecting on the efficiency of the workforce at the company, Akerna Corp. [KERN] managed to generate an average of -$132,328 per employee. Receivables Turnover for the company is 13.84 with a Total Asset Turnover recorded at a value of 0.26.Akerna Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
Akerna Corp. [KERN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Akerna Corp. posted -0.43/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -115.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KERN.
An analysis of insider ownership at Akerna Corp. [KERN]
There are presently around $27 million, or 24.20% of KERN stock, in the hands of institutional investors. The top three institutional holders of KERN stocks are: BLACKROCK INC. with ownership of 1,163,647, which is approximately -9.004% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 700,377 shares of the stock with an approximate value of $3.4 million in KERN stocks shares; and POINT72 ASSET MANAGEMENT, L.P., currently with $3.4 million in KERN stock with ownership of nearly New of the company’s market capitalization.
Positions in Akerna Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 45 institutional holders increased their position in Akerna Corp. [NASDAQ:KERN] by around 2,685,435 shares. Additionally, 20 investors decreased positions by around 749,775 shares, while 7 investors held positions by with 2,233,933 shares. The mentioned changes placed institutional holdings at 5,669,143 shares, according to the latest SEC report filing. KERN stock had 22 new institutional investments in for a total of 1,380,866 shares, while 8 institutional investors sold positions of 239,117 shares during the same period.