Market cap of Akerna Corp. [KERN] reaches 8.63M – now what?

Akerna Corp. [NASDAQ: KERN] traded at a low on 10/10/22, posting a -6.24 loss after which it closed the day’ session at $0.09. The company report on October 3, 2022 that Akerna Corp. Announces Pricing of $5.0 Million Private Placement of Convertible Redeemable Preferred Stock.


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Akerna Corp. (Nasdaq: KERN) (“Akerna” or the “Company”), a leading enterprise software company and developer of one of the most comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 400,000 shares of Series A convertible redeemable preferred stock and 100,000 shares of Series B convertible redeemable preferred stock. Each share of Series A and Series B preferred stock has a purchase price of $9.50, representing an original issue discount of 5% of the $10.00 stated value of each share. Each share of Series A and Series B preferred stock is convertible into shares of the Company’s common stock at an initial conversion price of $0.25 per share. Shares of the Series A and Series B preferred stock are convertible at the option of the holder at any time following the Company’s receipt of stockholder approval of a reverse stock split of the Company’s shares of common stock. The Company and the holders of the Series A and Series B preferred stock also entered into a registration rights agreement to register the resale of the shares of common stock issuable upon conversion of the Series A and Series B preferred stock. Total gross proceeds from the offerings, before deducting discounts, placement agent’s fees and other estimated offering expenses, is $5.0 million.

The Series A and Series B preferred stock permits the holders thereof to vote together with the holders of the Company’s common stock on a proposal to effectuate a reverse stock split of the Company’s shares of common stock at a special meeting of Company stockholders. The Series B preferred stock permits the holder to cast 4,000 votes per share of Series B preferred stock on such proposal, provided, that such votes must be cast in the same proportions as the shares of common stock and Series A preferred stock are voted on that proposal (excluding any shares of common stock that are not voted on the proposal). Except as required by law or expressly provided by the certificates of designation, holders of the Series A and Series B preferred stock will not be permitted to vote on any other matters. The holders of the Series A and Series B preferred stock agreed not to transfer, offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of their shares of preferred stock until after the receipt of stockholder approval of the reverse stock split. The holders of the Series A and Series B preferred stock have the right to require the Company to redeem their shares of preferred stock for cash at 105% of the stated value of such shares during the period commencing on the earlier of (i) receipt of stockholder approval of the reverse stock split and (ii) the date that is 60 days after the closing of the offering and ending 90 days after the closing of the offering. The Company has the option to redeem the Series A preferred stock for cash at 105% of the stated value commencing after the receipt of stockholder approval of the reverse stock split, subject to the holders’ rights to convert the shares prior to a redemption at the option of the Company.

The results of the trading session contributed to over 6611241 shares changing hands. Over the past one week, the price volatility of Akerna Corp. stands at 21.73% while the volatility over the past one month is 17.83%.

The market cap for KERN stock reached $8.63 million, with 80.44 million shares outstanding and 78.07 million shares in the current float. Compared to the average trading volume of 15.80M shares, KERN reached a trading volume of 6611241 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Akerna Corp. [KERN]?

Lake Street have made an estimate for Akerna Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 23, 2021. While these analysts kept the previous recommendation, Alliance Global Partners raised their target price to Buy. The new note on the price target was released on December 19, 2019, representing the official price target for Akerna Corp. stock.

The Average True Range (ATR) for Akerna Corp. is set at 0.02, with the Price to Sales ratio for KERN stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 0.32, with the Price to Cash per share for the same quarter was set at 0.06.

How has KERN stock performed recently?

Akerna Corp. [KERN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.28. With this latest performance, KERN shares dropped by -19.54% in over the last four-week period, additionally sinking by -90.62% over the last 6 months – not to mention a drop of -96.49% 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 41.58, with the RSI for the last a single of trading hit 41.42, and the three-weeks RSI is set at 40.84 for Akerna Corp. [KERN]. The present Moving Average for the last 50 days of trading for this stock 0.1268, while it was recorded at 0.1020 for the last single week of trading, and 0.6934 for the last 200 days.

Akerna Corp. [KERN]: Deeper insight into the fundamentals

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 0.40 and a Current Ratio set at 0.40.

Insider trade positions for Akerna Corp. [KERN]

There are presently around $1 million, or 13.40% of KERN stock, in the hands of institutional investors. The top three institutional holders of KERN stocks are: PERKINS CAPITAL MANAGEMENT INC with ownership of 2,173,000, which is approximately New of the company’s market cap and around 0.80% of the total institutional ownership; HUDSON BAY CAPITAL MANAGEMENT LP, holding 1,948,900 shares of the stock with an approximate value of $0.18 million in KERN stocks shares; and WALLEYE CAPITAL LLC, currently with $0.13 million in KERN stock with ownership of nearly New of the company’s market capitalization.

26 institutional holders increased their position in Akerna Corp. [NASDAQ:KERN] by around 7,208,324 shares. Additionally, 17 investors decreased positions by around 429,299 shares, while 14 investors held positions by with 2,530,537 shares. The mentioned changes placed institutional holdings at 10,168,160 shares, according to the latest SEC report filing. KERN stock had 11 new institutional investments in for a total of 6,784,550 shares, while 6 institutional investors sold positions of 184,719 shares during the same period.

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