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

Akanda Corp. (NASDAQ:AKAN) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 25,178 shares, a decrease of 55.7% from the February 12th total of 56,789 shares. Based on an average daily volume of 85,737 shares, the short-interest ratio is currently 0.3 days. Approximately 1.3% of the shares of the company are short sold. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 85,737 shares, the short-interest ratio is currently 0.3 days.

Akanda Trading Up 2.7%

Akanda stock opened at $0.88 on Thursday. Akanda has a 12-month low of $0.81 and a 12-month high of $46.45. The firm has a 50 day simple moving average of $1.36 and a 200-day simple moving average of $7.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Akanda in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Akanda has a consensus rating of “Sell”.

About Akanda

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.