Akanda Corp (NASDAQ:AKAN) price on Wednesday, February 05, rose 8.28% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.70.
A look at the stock’s price movement, the close in the last trading session was $1.57, moving within a range at $1.58 and $1.9. The beta value (5-Year monthly) was 1.521. Turning to its 52-week performance, $47.52 and $1.22 were the 52-week high and 52-week low respectively. Overall, AKAN moved 1.80% over the past month.
Akanda Corp’s market cap currently stands at around $2.43 million, with investors looking forward to this quarter’s earnings report slated for in March.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AKAN is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
AKAN’s current price about 5.21% and 7.77% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.81, while 7-day volatility ratio is 11.83% and 8.86% in the 30-day chart. Further, Akanda Corp (AKAN) has a beta value of 1.66, and an average true range (ATR) of 0.16.
If we refocus on Akanda Corp (NASDAQ:AKAN), historical trading data shows that trading volumes averaged 76620.0 over the past 10 days and 113.52K over the past 3 months. The company’s latest data on shares outstanding shows there are 1.43 million shares.
The 0.79% of Akanda Corp’s shares are in the hands of company insiders while institutional holders own 0.35% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 31223.0 on 2025-01-15, giving us a short ratio of 0.29. The data shows that as of 2025-01-15 short interest in Akanda Corp (AKAN) stood at 219.0 of shares outstanding, with shares short falling to 31375.0 registered in 2024-12-13. Current price change has pushed the stock 6.25% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AKAN stock continues to rise going into the next quarter.
