Akanda Corp. (NASDAQ:AKAN) Sees Significant Drop in Short Interest

Akanda Corp. (NASDAQ:AKAN) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 38,204 shares, a decline of 85.5% from the August 15th total of 264,158 shares. Based on an average daily trading volume, of 423,775 shares, the short-interest ratio is presently 0.1 days. Approximately 8.9% of the shares of the company are short sold.

Akanda Trading Up 2.3%

Akanda stock opened at $3.07 on Friday. The business’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $10.05. Akanda has a 12 month low of $2.30 and a 12 month high of $209.02.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akanda in a report on Thursday, August 13th. Wall Street Zen lowered Akanda from a “sell” rating to a “strong sell” rating in a report on Saturday, August 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Akanda Company Profile

Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products to patients worldwide. It offers medicinal-grade cannabis and cannabis based medical and wellness products. The company was incorporated in 2021 and is headquartered in New Romney, the United Kingdom.