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

Akanda Corp. (NASDAQ:AKAN) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 16,554 shares, a decrease of 34.3% from the February 26th total of 25,178 shares. Based on an average daily volume of 73,209 shares, the short-interest ratio is currently 0.2 days. Approximately 0.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Akanda in a research report on Monday, January 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Akanda Stock Down 13.7%

Shares of AKAN stock opened at $0.59 on Friday. The stock’s 50-day moving average is $1.01 and its two-hundred day moving average is $5.83. Akanda has a 1 year low of $0.51 and a 1 year high of $46.45.

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.