Akanda Corp. (NASDAQ:AKAN) Short Interest Down 65.7% in July

Akanda Corp. (NASDAQ:AKAN) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 6,244 shares, a decrease of 65.7% from the June 30th total of 18,178 shares. Based on an average daily volume of 25,674 shares, the days-to-cover ratio is presently 0.2 days. Currently, 1.4% of the company’s stock are short sold.

Analyst Ratings Changes

AKAN has been the subject of several research analyst reports. Weiss Ratings cut shares of Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Akanda from a “strong sell” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Akanda Stock Down 22.6%

Akanda stock traded down $1.75 during mid-day trading on Monday, reaching $5.98. The company’s stock had a trading volume of 147,811 shares, compared to its average volume of 1,202,273. Akanda has a 12 month low of $2.30 and a 12 month high of $209.02. The business’s 50 day simple moving average is $14.93 and its 200 day simple moving average is $10.53.

Akanda (NASDAQ:AKAN) last posted its quarterly earnings data on Tuesday, June 9th. The company reported ($317.90) EPS for the quarter.

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.