Short Interest in Akanda Corp. (NASDAQ:AKAN) Declines By 65.7%

by · The Markets Daily

Akanda Corp. (NASDAQ:AKAN – Get Free Report) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 6,244 shares, a drop of 65.7% from the June 30th total of 18,178 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 25,674 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AKAN. Weiss Ratings lowered shares of Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. Wall Street Zen upgraded Akanda from a “strong sell” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Akanda currently has an average rating of “Sell”.

Get Our Latest Stock Analysis on Akanda

Akanda Stock Down 22.6%

AKAN traded down $1.75 during mid-day trading on Monday, reaching $5.98. The stock had a trading volume of 147,811 shares, compared to its average volume of 1,202,273. The firm’s fifty day simple moving average is $14.93 and its two-hundred day simple moving average is $10.53. Akanda has a 52 week low of $2.30 and a 52 week high of $209.02.

Akanda (NASDAQ:AKAN – Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported ($317.90) earnings per share for the quarter.

About Akanda

(Get Free Report)

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.

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