Akanda (NASDAQ:AKAN) Shares Up 4% – Time to Buy?

Akanda Corp. (NASDAQ:AKAN)’s share price rose 4% during trading on Monday. The stock traded as high as $1.0726 and last traded at $1.05. Approximately 133,462 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 395,121 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

AKAN has been the topic of a number of recent research reports. Wall Street Zen raised Akanda from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akanda in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Akanda presently has a consensus rating of “Sell”.

Akanda Stock Down 1.8%

The firm’s 50 day moving average price is $2.62 and its 200-day moving average price is $8.07.

Akanda (NASDAQ:AKAN) last announced its quarterly earnings results on Wednesday, September 30th. The company reported ($5.90) earnings per share for the quarter. The company had revenue of $0.20 million for the quarter.

About Akanda

Akanda Corporation is an international medical cannabis company focused on the cultivation, processing, distribution and sale of cannabis-based products. Its activities have included supplying medical cannabis flower, oils and other related products to patients, pharmacies, clinics and healthcare providers through regulated markets.

The company has historically operated through businesses including Holigen, which was associated with cannabis cultivation and processing in Portugal, and CanMart, a United Kingdom-based importer and distributor of medical cannabis products.