Akanda Corp. (NASDAQ:AKAN – Get Free Report) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 87,100 shares, a decline of 31.0% from the August 15th total of 126,300 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average trading volume of 391,100 shares, the short-interest ratio is currently 0.2 days.
Hedge Funds Weigh In On Akanda
A hedge fund recently bought a new stake in Akanda stock. Jane Street Group LLC acquired a new position in Akanda Corp. (NASDAQ:AKAN – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,129 shares of the company’s stock, valued at approximately $88,000. 0.82% of the stock is owned by institutional investors and hedge funds.
Akanda Price Performance
Shares of NASDAQ AKAN opened at $0.82 on Friday. Akanda has a twelve month low of $0.44 and a twelve month high of $6.88. The company has a 50 day moving average of $0.60 and a 200 day moving average of $0.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.21 and a current ratio of 0.41.
Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products to patients worldwide. The company operates through Cultivation and Distribution segments. It intends to supply medicinal-grade cannabis and cannabis based medical and wellness products.
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