The stock has a 36-month beta value of 1.47.
The public float for AKAN is 1.89M, and at present, short sellers hold a 12.14% of that float. On October 31, 2024, the average trading volume of AKAN was 1.07M shares.
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AKAN) stock’s latest price update
Akanda Corp (NASDAQ: AKAN)’s stock price has gone decline by -8.38 in comparison to its previous close of 0.83, however, the company has experienced a -21.23% decrease in its stock price over the last five trading days. newsfilecorp.com reported 2024-10-04 that London, United Kingdom–(Newsfile Corp. – October 4, 2024) – Akanda Corp. (NASDAQ: AKAN) (“Akanda” or the “Company”), an international medical cannabis company, entered into an underwriting agreement (the “Underwriting Agreement”) with Univest Securities, LLC (“Univest”) as the underwriter in connection with the issuance and sale by the Company in an underwritten public offering (the “Offering”) of 258,940 of the Company’s Common Shares, no par value per share (the “Common Shares” and, such number of Common Shares issued and sold in the Offering, the “Offered Shares”), at a purchase price of $1.00 per Offered Share, and 1,241,060 pre-funded warrants to purchase 1,241,060 Common Shares at a purchase price of each pre-funded warrant equal to the price at which one Common Share is sold in the Offering, minus $0.0001, and the exercise price of each pre-funded warrant is $0.0001 per share (the “Pre-Funded Warrants” and, such number of Pre-Funded Warrants issued and sold in the Offering, the “Offered Pre-Funded Warrants”), pursuant to the Company’s effective registration statement on Form F-1 (File No. 333-281945) and a related preliminary prospectus, together with the related final prospectus dated as of October 2, 2024 (such registration statement, preliminary prospectus and the final prospectus, collectively, the “Registration Statement”), filed with the Securities and Exchange Commission.
AKAN’s Market Performance
Akanda Corp (AKAN) has seen a -21.23% fall in stock performance for the week, with a -30.54% decline in the past month and a -47.30% plunge in the past quarter. The volatility ratio for the week is 8.42%, and the volatility levels for the past 30 days are at 10.99% for AKAN. The simple moving average for the past 20 days is -22.69% for AKAN’s stock, with a -83.44% simple moving average for the past 200 days.
AKAN Trading at -30.76% from the 50-Day Moving Average
After a stumble in the market that brought AKAN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -97.31% of loss for the given period.
Volatility was left at 10.99%, however, over the last 30 days, the volatility rate increased by 8.42%, as shares sank -27.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -45.42% lower at present.
During the last 5 trading sessions, AKAN fell by -21.23%, which changed the moving average for the period of 200-days by -95.98% in comparison to the 20-day moving average, which settled at $0.9884. In addition, Akanda Corp saw -95.66% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for AKAN
Current profitability levels for the company are sitting at:
- -4.65 for the present operating margin
- -1.66 for the gross margin
The net margin for Akanda Corp stands at -14.94. The total capital return value is set at 7.53. Equity return is now at value -279.79, with -134.94 for asset returns.
Based on Akanda Corp (AKAN), the company’s capital structure generated 23.54 points at debt to capital in total, while cash flow to debt ratio is standing at -0.38. The debt to equity ratio resting at -1.04. The interest coverage ratio of the stock is -39.25.
Currently, EBITDA for the company is -5.63 million with net debt to EBITDA at -0.68. When we switch over and look at the enterprise to sales, we see a ratio of 2.82. The receivables turnover for the company is 7.59for trailing twelve months and the total asset turnover is 0.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.18.
Conclusion
To sum up, Akanda Corp (AKAN) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
