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

Akanda Corp. (NASDAQ:AKAN) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 75,809 shares, a growth of 90.7% from the May 14th total of 39,752 shares. Based on an average trading volume of 980,431 shares, the short-interest ratio is currently 0.1 days. Currently, 18.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on AKAN shares. Wall Street Zen upgraded Akanda to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings cut Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Akanda Trading Down 4.3%

Shares of AKAN stock opened at $17.75 on Tuesday. The business’s 50 day simple moving average is $16.22 and its 200 day simple moving average is $11.40. Akanda has a one year low of $2.30 and a one year high of $209.02.

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.