Akanda Corp. (NASDAQ:AKAN – Get Rating) was the recipient of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 423,900 shares, a drop of 28.6% from the December 15th total of 593,500 shares. Based on an average daily volume of 642,400 shares, the short-interest ratio is currently 0.7 days. Approximately 5.7% of the company’s shares are short sold.
Hedge Funds Weigh In On Akanda
A hedge fund recently bought a new stake in Akanda stock. Renaissance Technologies LLC bought a new position in shares of Akanda Corp. (NASDAQ:AKAN – Get Rating) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 86,463 shares of the company’s stock, valued at approximately $70,000. Renaissance Technologies LLC owned approximately 0.30% of Akanda as of its most recent SEC filing. 0.35% of the stock is currently owned by hedge funds and other institutional investors.
Akanda Trading Down 4.7 %
NASDAQ:AKAN opened at $0.16 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $0.19 and a 200 day moving average price of $0.49. Akanda has a fifty-two week low of $0.12 and a fifty-two week high of $31.00.
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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