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

Akanda Corp. (NASDAQ:AKAN) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 17,220 shares, an increase of 175.8% from the July 15th total of 6,244 shares. Based on an average trading volume of 548,622 shares, the short-interest ratio is currently 0.0 days. Approximately 4.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen raised Akanda from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings lowered Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Akanda has a consensus rating of “Sell”.

Akanda Stock Up 28.7%

Shares of NASDAQ AKAN traded up $1.44 on Friday, hitting $6.45. The company’s stock had a trading volume of 13,847,481 shares, compared to its average volume of 895,787. The stock has a 50 day moving average of $10.71 and a 200-day moving average of $10.21. Akanda has a 12-month low of $2.30 and a 12-month high of $209.02.

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

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.