Akanda Corp. (NASDAQ:AKAN) Stock Short Interest Report for October

Akanda Corp. (NASDAQ:AKAN) was the recipient of a large increase in short interest in October. As of October 30th, there was short interest totaling 193,393 shares, an increase of 269.9% from the October 15th total of 52,279 shares. Based on an average trading volume of 609,501 shares, the days-to-cover ratio is presently 0.3 days. Approximately 44.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AKAN. Wall Street Zen raised shares of Akanda from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Akanda in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Akanda Trading Up 39.2%

Shares of NASDAQ:AKAN traded up $0.26 during midday trading on Friday, hitting $0.94. The company had a trading volume of 41,878,900 shares, compared to its average volume of 1,332,988. Akanda has a 12-month low of $0.64 and a 12-month high of $78.90. The company has a fifty day moving average of $1.93 and a two-hundred day moving average of $7.69.

Akanda (NASDAQ:AKAN) last released its quarterly earnings data on Wednesday, September 30th. The company reported ($5.90) earnings per share for the quarter. The firm had revenue of $0.20 million during the quarter.

Akanda Company Profile

Akanda Corporation is an international medical cannabis company focused on the cultivation, processing, distribution and sale of cannabis-based products. Its activities have included supplying medical cannabis flower, oils and other related products to patients, pharmacies, clinics and healthcare providers through regulated markets. The company has historically operated through businesses including Holigen, which was associated with cannabis cultivation and processing in Portugal, and CanMart, a United Kingdom-based importer and distributor of medical cannabis products.