Akanda Corp. (NASDAQ:AKAN) Sees Significant Drop in Short Interest

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Akanda Stock Down 9.2%

Shares of NASDAQ:AKAN opened at $21.67 on Thursday. The business’s 50 day moving average price is $12.67 and its 200-day moving average price is $12.16. Akanda has a 1 year low of $2.30 and a 1 year 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.