Akanda (NASDAQ:AKAN) Issues Quarterly Earnings Results

Akanda (NASDAQ:AKAN) released its earnings results on Wednesday. The company reported ($5.90) earnings per share for the quarter, FiscalAI reports. The business had revenue of $0.20 million during the quarter.

Akanda Price Performance

AKAN traded down $0.36 during trading on Thursday, hitting $2.21. The company’s stock had a trading volume of 235,377 shares, compared to its average volume of 1,325,286. Akanda has a twelve month low of $2.20 and a twelve month high of $78.90. The stock’s fifty day moving average price is $4.29 and its 200-day moving average price is $9.99.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AKAN. Weiss Ratings restated a “sell (e+)” rating on shares of Akanda in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Akanda from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Akanda currently has an average rating of “Sell”.

Akanda Company Profile

Akanda Corporation is an international medical cannabis company focused on the cultivation, processing, distribution and sale of cannabis products. Its activities have included medical cannabis flower, oils and other formulations intended for patients and healthcare markets.

The company has historically operated through businesses serving the European medical cannabis industry. Its operations have included cultivation and processing activities in Portugal, as well as CanMart, a United Kingdom-based importer and distributor of pharmaceutical-grade medical cannabis products.