Short Interest in Akanda Corp. (NASDAQ:AKAN) Grows By 373.3%

Akanda Corp. (NASDAQ:AKAN) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 81,400 shares, an increase of 373.3% from the February 29th total of 17,200 shares. Based on an average daily volume of 796,600 shares, the short-interest ratio is presently 0.1 days. Currently, 2.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Akanda

An institutional investor recently raised its position in Akanda stock. Renaissance Technologies LLC grew its holdings in shares of Akanda Corp. (NASDAQ:AKAN) by 1,166.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,719 shares of the company’s stock after purchasing an additional 326,719 shares during the quarter. Renaissance Technologies LLC owned approximately 1.04% of Akanda worth $53,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.00% of the company’s stock.

Akanda Price Performance

AKAN stock opened at $0.12 on Friday. Akanda has a 12-month low of $0.10 and a 12-month high of $2.70. The business’s 50-day moving average is $0.27 and its 200 day moving average is $0.42. The company has a current ratio of 0.26, a quick ratio of 0.14 and a debt-to-equity ratio of 0.11.

About Akanda

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.