Akanda Corp. (NASDAQ:AKAN) Sees Significant Increase in Short Interest
by Doug Wharley · The Cerbat GemAkanda Corp. (NASDAQ:AKAN – Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 903,214 shares, an increase of 635.6% from the November 30th total of 122,794 shares. Based on an average trading volume of 10,024,487 shares, the days-to-cover ratio is presently 0.1 days. Currently, 248.1% of the company’s stock are sold short. Currently, 248.1% of the company’s stock are sold short. Based on an average trading volume of 10,024,487 shares, the days-to-cover ratio is presently 0.1 days.
Akanda Stock Performance
AKAN traded down $0.06 during trading hours on Wednesday, hitting $0.51. 781,584 shares of the stock were exchanged, compared to its average volume of 1,008,315. The stock has a 50-day simple moving average of $1.29 and a 200-day simple moving average of $2.91. Akanda has a 12 month low of $0.49 and a 12 month high of $9.29.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AKAN. Weiss Ratings started coverage on shares of Akanda in a research note on Wednesday, October 15th. They issued a “sell (e+)” rating for the company. Wall Street Zen raised shares of Akanda to a “sell” rating in a research report on Saturday, October 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Analysis on Akanda
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.