Akanda Corp. [AKAN] is -88.10% lower this YTD. Is it still time to buy?

Akanda Corp. [NASDAQ: AKAN] gained 25.00% or 0.25 points to close at $1.25 with a heavy trading volume of 19262789 shares. The company report on August 9, 2022 that Akanda to Supply Cansativa with Premium Indoor Cannabis Flower Grown at its Sintra Facility in Portugal.

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Agreement generates upfront payment and ongoing revenues, validating the European opportunity for medical cannabis.

International medical cannabis platform company Akanda Corp. (“Akanda” or the “Company”) (NASDAQ: AKAN) today announced it has signed a multi-year supply agreement with European medical cannabis leader Cansativa GmbH (“Cansativa Group” or “Cansativa”) to supply EU-GMP quality THC dried flower strains cultivated from its Portuguese operations at Holigen. This new supply agreement marks one of the largest for medical cannabis to be exported from Portugal to serve the emerging European medical cannabis market.

If we look at the average trading volume of 1.40M shares, AKAN reached to a volume of 19262789 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Akanda Corp. [AKAN]:

The Average True Range (ATR) for Akanda Corp. is set at 0.14, with the Price to Sales ratio for AKAN stock in the period of the last 12 months amounting to 926.24.

Trading performance analysis for AKAN stock

Akanda Corp. [AKAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.77.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AKAN stock in for the last two-week period is set at 61.32, with the RSI for the last a single of trading hit 73.75, and the three-weeks RSI is set at 48.48 for Akanda Corp. [AKAN]. The present Moving Average for the last 50 days of trading for this stock 0.9252, while it was recorded at 1.0196 for the last single week of trading.

Akanda Corp. [AKAN]: A deeper dive into fundamental analysis

Akanda Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

An analysis of insider ownership at Akanda Corp. [AKAN]

There are presently around $0 million, or 1.20% of AKAN stock, in the hands of institutional investors. The top three institutional holders of AKAN stocks are: MILLENNIUM MANAGEMENT LLC with ownership of 23,795, which is approximately New of the company’s market cap and around 72.86% of the total institutional ownership; JANE STREET GROUP, LLC, holding 11,129 shares of the stock with an approximate value of $14000.0 in AKAN stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $13000.0 in AKAN stock with ownership of nearly New of the company’s market capitalization.

6 institutional holders increased their position in Akanda Corp. [NASDAQ:AKAN] by around 52,487 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 52,487 shares, according to the latest SEC report filing. AKAN stock had 6 new institutional investments in for a total of 52,487 shares, while 0 institutional investors sold positions of 0 shares during the same period.


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