Short Interest in Akanda Corp. (NASDAQ:AKAN) Decreases By 50.6%

by · The Cerbat Gem

Akanda Corp. (NASDAQ:AKAN – Get Free Report) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 74,784 shares, a decline of 50.6% from the December 31st total of 151,372 shares. Currently, 103.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 780,682 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 780,682 shares, the days-to-cover ratio is currently 0.1 days. Currently, 103.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research firms recently weighed in on AKAN. Wall Street Zen upgraded shares of Akanda to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Akanda in a research note on Monday, January 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Akanda currently has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on AKAN

Akanda Stock Down 7.2%

NASDAQ AKAN opened at $1.28 on Friday. Akanda has a 1-year low of $1.19 and a 1-year high of $46.45. The firm’s fifty day simple moving average is $3.02 and its 200-day simple moving average is $10.96.

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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