Short Interest in Akanda Corp. (NASDAQ:AKAN) Grows By 90.7%

Akanda Corp. (NASDAQ:AKAN) saw a large 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. Approximately 18.1% of the company’s shares are sold short. Based on an average trading volume of 980,431 shares, the short-interest ratio is presently 0.1 days.

Akanda Price Performance

Shares of AKAN traded down $0.29 during trading hours on Monday, reaching $18.26. The stock had a trading volume of 149,096 shares, compared to its average volume of 1,438,889. Akanda has a 52 week low of $2.30 and a 52 week high of $209.02. The firm has a 50-day moving average of $15.93 and a 200 day moving average of $11.43.

Wall Street Analyst Weigh In

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

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.