Kanabo Group (LON:KNB) Trading 13.2% Higher – Here’s Why

Kanabo Group Plc (LON:KNB)’s share price traded up 13.2% during trading on Friday . The stock traded as high as GBX 1.20 ($0.02) and last traded at GBX 1.20 ($0.02). 124,262 shares traded hands during trading, a decline of 72% from the average session volume of 449,072 shares. The stock had previously closed at GBX 1.06 ($0.01).

Kanabo Group Price Performance

The company has a 50 day moving average of GBX 1.18 and a 200 day moving average of GBX 1.40. The firm has a market cap of £7.59 million, a price-to-earnings ratio of -120.00 and a beta of 3.04. The company has a current ratio of 2.78, a quick ratio of 24.36 and a debt-to-equity ratio of 3.49.

Insiders Place Their Bets

In related news, insider Ian Mattioli acquired 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of GBX 1 ($0.01) per share, for a total transaction of £1,500 ($1,947.55). 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.