Akanda Corp. (NASDAQ:AKAN – Get Rating) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 97,100 shares, a drop of 94.9% from the February 13th total of 1,900,000 shares. Based on an average daily trading volume, of 653,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.3% of the company's shares are sold short.
Akanda Stock Down 11.5 %
AKAN traded down $0.15 on Friday, reaching $1.18. 122,381 shares of the company traded hands, compared to its average volume of 897,793. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $0.24 and a two-hundred day simple moving average of $0.32. Akanda has a one year low of $1.10 and a one year high of $310.00.
Get Akanda alerts:Institutional Inflows and Outflows
A hedge fund recently raised its stake in Akanda stock. Renaissance Technologies LLC lifted its position in Akanda Corp. (NASDAQ:AKAN – Get Rating) by 1,166.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,719 shares of the company's stock after purchasing an additional 326,719 shares during the period. Renaissance Technologies LLC owned about 1.04% of Akanda worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.35% of the stock is currently owned by hedge funds and other institutional investors.
Akanda Company Profile
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Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products in the United Kingdom, Lesotho, and internationally. It intends to supply cannabis based medical and wellness products. The company was incorporated in 2021 and is headquartered in New Romney, the United Kingdom.
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