Akanda Corp (NASDAQ:AKAN) shares, rose in value, with the stock price up by 2.01% to the previous day’s close as strong demand from buyers drove the stock to $0.09.
Actively observing the price movement in the last trading, the stock closed the session at $0.09. Referring to stock’s 52-week performance, its high was $2.70, and the low was $0.09. On the whole, AKAN has fluctuated by -44.41% over the past month.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that AKAN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AKAN currently trading nearly -22.87% and -50.00% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.39, while the 7-day volatility ratio is showing 11.88% which for the 30-day chart, stands at 25.45%. Furthermore, Akanda Corp (AKAN)’s beta value is 1.61, and its average true range (ATR) is 0.03.
A comparison of Akanda Corp (AKAN) with its peers suggests the former has fared considerably weaker in the market. AKAN showed an intraday change of 2.01% in last session, and over the past year, it shrunk by -91.03%%.
Data on historical trading for Akanda Corp (NASDAQ:AKAN) indicates that the trading volumes over the past 3 months, they’ve averaged 4.42 million. According to company’s latest data on outstanding shares, there are 11.93 million shares outstanding.
Nearly 11.42% of Akanda Corp’s shares belong to company insiders and institutional investors own 0.50% of the company’s shares. The stock has fallen by -79.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AKAN stock heading into the next quarter.
