Akanda Corp. (NASDAQ:AKAN) Short Interest Down 86.0% in May

Akanda Corp. (NASDAQ:AKAN) was the target of a significant decrease in short interest during the month of 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 volume of 1,382,455 shares, the days-to-cover ratio is presently 0.0 days. Currently, 9.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research firms have recently commented on AKAN. Wall Street Zen upgraded Akanda to a “sell” rating in a research note on Saturday. Weiss Ratings cut Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Akanda presently has an average rating of “Sell”.

Akanda Price Performance

Shares of Akanda stock traded up $0.08 during trading hours on Friday, hitting $21.99. 75,189 shares of the company were exchanged, compared to its average volume of 1,210,615. Akanda has a 1 year low of $2.30 and a 1 year high of $209.02. The business has a 50-day moving average of $13.41 and a 200-day moving average of $12.17.

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.