Akanda Corp. (NASDAQ:AKAN) Short Interest Update

Akanda Corp. (NASDAQ:AKAN) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 81,400 shares, a growth of 373.3% from the February 29th total of 17,200 shares. Based on an average daily trading volume, of 796,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.6% of the shares of the company are short sold.

Akanda Price Performance

AKAN opened at $0.16 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.26 and a quick ratio of 0.14. The firm has a 50 day moving average of $0.28 and a two-hundred day moving average of $0.42. Akanda has a 12-month low of $0.14 and a 12-month high of $2.70.

Hedge Funds Weigh In On Akanda

An institutional investor recently bought a new position in Akanda stock. Jane Street Group LLC bought a new stake in shares of Akanda Corp. (NASDAQ:AKAN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,129 shares of the company’s stock, valued at approximately $88,000. Institutional investors and hedge funds own 1.00% of the company’s stock.

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.