Kernel Group Holdings, Inc. (NASDAQ:KRNL – Get Rating) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 33,700 shares, an increase of 262.4% from the July 31st total of 9,300 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 29,500 shares, the days-to-cover ratio is presently 1.1 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in KRNL. Mariner Investment Group LLC acquired a new position in Kernel Group during the 4th quarter worth about $124,000. Wolverine Asset Management LLC lifted its position in Kernel Group by 40.7% during the 4th quarter. Wolverine Asset Management LLC now owns 155,534 shares of the company's stock worth $1,516,000 after buying an additional 45,020 shares in the last quarter. PEAK6 Investments LLC lifted its position in Kernel Group by 3.1% during the 4th quarter. PEAK6 Investments LLC now owns 167,495 shares of the company's stock worth $1,633,000 after buying an additional 5,048 shares in the last quarter. Tegean Capital Management LLC acquired a new position in Kernel Group during the 4th quarter worth about $488,000. Finally, Oribel Capital Management LP lifted its position in Kernel Group by 22.1% during the 4th quarter. Oribel Capital Management LP now owns 670,336 shares of the company's stock worth $6,536,000 after buying an additional 121,126 shares in the last quarter. Institutional investors and hedge funds own 62.05% of the company's stock.
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Kernel Group Stock Up 0.1 %
Shares of KRNL traded up $0.01 during trading hours on Friday, hitting $9.89. The stock had a trading volume of 41,866 shares, compared to its average volume of 39,482. The company's fifty day moving average is $9.85 and its two-hundred day moving average is $9.81. Kernel Group has a 52 week low of $9.64 and a 52 week high of $10.35.
About Kernel Group
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Kernel Group Holdings, Inc does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. It intends to identify, acquire, and manage a business in the commerce enablement, supply chain, logistics and related technology infrastructure sectors.
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