Short Interest in Akanda Corp. (NASDAQ:AKAN) Drops By 55.7%

Akanda Corp. (NASDAQ:AKAN) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 25,178 shares, a drop of 55.7% from the February 12th total of 56,789 shares. Based on an average daily trading volume, of 85,737 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.3% of the shares of the company are sold short. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 85,737 shares, the days-to-cover ratio is currently 0.3 days.

Akanda Stock Performance

AKAN stock opened at $0.85 on Friday. The firm has a 50 day moving average of $1.33 and a 200-day moving average of $7.19. Akanda has a 12 month low of $0.81 and a 12 month high of $46.45.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akanda in a research report on Monday, January 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Akanda presently has an average 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.