The stock price of Akanda Corp (NASDAQ: AKAN) has jumped by 10.28 compared to previous close of 1.34. Despite this, the company has seen a fall of -6.67% in its stock price over the last five trading days. newsfilecorp.com reported 2024-11-12 that London, United Kingdom–(Newsfile Corp. – November 12, 2024) – Akanda Corp. (NASDAQ: AKAN) (the “Company” or “Akanda”), today announced that it expects to implement a 1-for-2 reverse stock split of the Company’s common shares effective November 14, 2024. The reverse stock split was previously approved by the Company’s shareholders on March 22, 2024 and Board of Directors on October 25, 2024 and will begin trading on an adjusted basis giving effect to the reverse stock split at the opening of market on November 14, 2024 under the existing ticker symbol “AKAN”.
Is It Worth Investing in Akanda Corp (NASDAQ: AKAN) Right Now?
AKAN has 36-month beta value of 1.54.
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The public float for AKAN is 0.94M, and currently, short sellers hold a 5.51% ratio of that float. The average trading volume of AKAN on November 15, 2024 was 339.96K shares.
AKAN’s Market Performance
AKAN’s stock has seen a -6.67% decrease for the week, with a -21.86% drop in the past month and a -45.99% fall in the past quarter. The volatility ratio for the week is 16.93%, and the volatility levels for the past 30 days are at 11.95% for Akanda Corp The simple moving average for the past 20 days is -11.11% for AKAN’s stock, with a -80.35% simple moving average for the past 200 days.
AKAN Trading at -25.66% 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 -97.39% of loss for the given period.
Volatility was left at 11.95%, however, over the last 30 days, the volatility rate increased by 16.93%, as shares sank -23.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -36.20% lower at present.
During the last 5 trading sessions, AKAN fell by -6.67%, which changed the moving average for the period of 200-days by -95.26% in comparison to the 20-day moving average, which settled at $1.6649. In addition, Akanda Corp saw -95.80% 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:
- -4.7 for the present operating margin
- -1.41 for the gross margin
The net margin for Akanda Corp stands at -13.26. The total capital return value is set at -2.71. Equity return is now at value -218.30, with -123.16 for asset returns.
Based on Akanda Corp (AKAN), the company’s capital structure generated 0.08 points at debt to capital in total, while cash flow to debt ratio is standing at -10.93. The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is -36.79.
Currently, EBITDA for the company is -27.74 million with net debt to EBITDA at 0.76. When we switch over and look at the enterprise to sales, we see a ratio of -1.34. The receivables turnover for the company is 8.46for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.41.
Conclusion
To put it simply, Akanda Corp (AKAN) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
