Akanda Corp. (NASDAQ:AKAN) Short Interest Down 31.0% in August

Akanda Corp. (NASDAQ:AKAN) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 87,100 shares, a decrease of 31.0% from the August 15th total of 126,300 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 391,100 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Akanda

A hedge fund recently raised its stake in Akanda stock. Renaissance Technologies LLC lifted its holdings in Akanda Corp. (NASDAQ:AKAN) by 1,166.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 354,719 shares of the company’s stock after acquiring an additional 326,719 shares during the quarter. Renaissance Technologies LLC owned 1.04% of Akanda worth $53,000 as of its most recent SEC filing. 0.82% of the stock is currently owned by institutional investors.

Akanda Stock Performance

NASDAQ:AKAN opened at $0.88 on Friday. Akanda has a 1-year low of $0.44 and a 1-year high of $6.85. The company’s fifty day moving average price is $0.61 and its 200-day moving average price is $0.86. The company has a current ratio of 0.41, a quick ratio of 0.21 and a debt-to-equity ratio of 0.10.

About Akanda

Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products to patients worldwide. The company operates through Cultivation and Distribution segments. It intends to supply medicinal-grade cannabis and cannabis based medical and wellness products.