Akanda Corp. (NASDAQ:AKAN) Short Interest Up 166.3% in September

Akanda Corp. (NASDAQ:AKAN) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 49,000 shares, a growth of 166.3% from the September 15th total of 18,400 shares. Approximately 6.7% of the company’s stock are short sold. Based on an average daily trading volume, of 659,900 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 659,900 shares, the days-to-cover ratio is presently 0.1 days. Approximately 6.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AKAN shares. Weiss Ratings started coverage on shares of Akanda in a research report on Wednesday, October 15th. They issued a “sell (e+)” rating on the stock. Wall Street Zen raised shares of Akanda to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Akanda Price Performance

Shares of AKAN stock opened at $2.21 on Tuesday. Akanda has a one year low of $2.11 and a one year high of $9.29. The company’s 50-day moving average is $3.46 and its 200 day moving average is $3.73.

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.