Kanabo Group (LON:KNB) Shares Down 18.2% – Here’s Why

Shares of Kanabo Group Plc (LON:KNB) traded down 18.2% during trading on Tuesday . The stock traded as low as GBX 0.90 ($0.01) and last traded at GBX 0.90 ($0.01). 137,601 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 436,852 shares. The stock had previously closed at GBX 1.10 ($0.01).

Kanabo Group Stock Performance

The firm’s 50 day simple moving average is GBX 1.11 and its 200 day simple moving average is GBX 1.32. The company has a current ratio of 2.78, a quick ratio of 24.36 and a debt-to-equity ratio of 3.49. The firm has a market cap of £5.76 million, a PE ratio of -90.00 and a beta of 3.04.

Insider Activity

In other Kanabo Group news, insider Ian Mattioli bought 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of GBX 1 ($0.01) per share, for a total transaction of £1,500 ($1,901.38). Corporate insiders own 37.01% of the company’s stock.

About Kanabo Group

Kanabo Group Plc, a digital health company, engages in the research, development and commercialization of cannabis-derived formulations and therapeutic inhalation devices. It operates through Primary Care and Secondary Care segments. The company offers The GP Service, an online telehealth platform, that provides patients with video consultations, online prescriptions, and primary care services; and operates Treat It, an online clinic focused on management of chronic pain.