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

Akanda Corp. (NASDAQ:AKAN) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 18,178 shares, a decrease of 87.0% from the June 15th total of 139,841 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 44,335 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AKAN. Weiss Ratings downgraded shares of Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of Akanda to a “sell” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Akanda Stock Down 1.1%

AKAN stock traded down $0.11 during trading on Friday, hitting $9.94. 16,114 shares of the company’s stock traded hands, compared to its average volume of 309,926. Akanda has a 52 week low of $2.30 and a 52 week high of $209.02. The stock has a fifty day moving average price of $19.04 and a two-hundred day moving average price of $10.71.

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

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.