Akanda Corp. (NASDAQ:AKAN) Sees Large Decrease in Short Interest

Akanda Corp. (NASDAQ:AKAN) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 151,372 shares, a decrease of 83.2% from the December 15th total of 903,214 shares. Approximately 41.6% of the shares of the company are short sold. Based on an average trading volume of 4,767,598 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 4,767,598 shares, the short-interest ratio is currently 0.0 days. Approximately 41.6% of the shares of the company are short sold.

Analyst Ratings Changes

AKAN has been the topic of several recent research reports. Weiss Ratings began coverage on Akanda in a report on Wednesday, October 15th. They set a “sell (e+)” rating on the stock. Wall Street Zen upgraded shares of Akanda to a “sell” rating in a research note on Saturday, October 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Akanda Trading Down 25.1%

AKAN stock opened at $1.97 on Wednesday. Akanda has a 1-year low of $1.86 and a 1-year high of $46.45. The business’s 50 day moving average is $4.17 and its 200-day moving average is $12.62.

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.