Short Interest in Akanda Corp. (NASDAQ:AKAN) Declines By 87.0%

Akanda Corp. (NASDAQ:AKAN) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 18,178 shares, a drop of 87.0% from the June 15th total of 139,841 shares. Based on an average daily trading volume, of 44,335 shares, the days-to-cover ratio is presently 0.4 days. Currently, 4.2% of the shares of the company are sold short.

Akanda Trading Down 1.1%

AKAN traded down $0.11 during midday trading on Friday, hitting $9.94. The company had a trading volume of 16,114 shares, compared to its average volume of 309,926. Akanda has a twelve month low of $2.30 and a twelve month high of $209.02. The firm’s 50-day simple moving average is $19.04 and its 200-day simple moving average is $10.71.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Akanda from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. Wall Street Zen raised shares of Akanda to a “sell” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Akanda currently 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.