Akanda Corp. [NASDAQ: AKAN] price plunged by -6.69 percent to reach at -$0.06. The company report on August 9, 2022 that Akanda to Supply Cansativa with Premium Indoor Cannabis Flower Grown at its Sintra Facility in Portugal.
Top 5 Cheap Stocks to Own Right Now
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
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.
A sum of 2494330 shares traded at recent session while its average daily volume was at 1.49M shares. Akanda Corp. shares reached a high of $1.14 and dropped to a low of $0.8286 until finishing in the latest session at $0.83.
Guru’s Opinion on Akanda Corp. [AKAN]:
The Average True Range (ATR) for Akanda Corp. is set at 0.17, with the Price to Sales ratio for AKAN stock in the period of the last 12 months amounting to 615.59.
AKAN Stock Performance Analysis:
Akanda Corp. [AKAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.55.
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 38.61, with the RSI for the last a single of trading hit 34.75, and the three-weeks RSI is set at 37.66 for Akanda Corp. [AKAN]. The present Moving Average for the last 50 days of trading for this stock 0.9381, while it was recorded at 0.9415 for the last single week of trading.
Insight into Akanda Corp. Fundamentals:
Akanda Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
Akanda Corp. [AKAN] Insider Position Details
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: ETF MANAGERS GROUP, LLC with ownership of 241,843, which is approximately New of the company’s market cap and around 72.86% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 86,463 shares of the stock with an approximate value of $72000.0 in AKAN stocks shares; and VIDENT INVESTMENT ADVISORY, LLC, currently with $51000.0 in AKAN stock with ownership of nearly New of the company’s market capitalization.
9 institutional holders increased their position in Akanda Corp. [NASDAQ:AKAN] by around 445,401 shares. Additionally, 3 investors decreased positions by around 16,342 shares, while 0 investors held positions by with 19,803 shares. The mentioned changes placed institutional holdings at 481,546 shares, according to the latest SEC report filing. AKAN stock had 6 new institutional investments in for a total of 441,769 shares, while 2 institutional investors sold positions of 15,848 shares during the same period.