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

Akanda Corp. (NASDAQ:AKAN) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 39,752 shares, a drop of 86.0% from the April 30th total of 283,034 shares. Approximately 9.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,382,455 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Akanda Stock Down 9.2%

Shares of AKAN opened at $21.67 on Thursday. The company has a 50 day moving average price of $12.67 and a 200-day moving average price of $12.16. Akanda has a fifty-two week low of $2.30 and a fifty-two week high of $209.02.

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.