SmartKem, Inc. (NASDAQ:SMTK) Short Interest Update

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 26,215 shares, a decrease of 60.6% from the December 15th total of 66,461 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 59,348 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 59,348 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SMTK shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a report on Wednesday, December 24th. Wall Street Zen raised shares of SmartKem from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SmartKem has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC raised its position in SmartKem by 120.8% during the second quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock valued at $43,000 after acquiring an additional 23,248 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of SmartKem during the 3rd quarter worth approximately $72,000. Rossby Financial LCC purchased a new position in shares of SmartKem during the 3rd quarter valued at approximately $188,000. Walleye Capital LLC lifted its stake in shares of SmartKem by 147.0% in the 2nd quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock valued at $238,000 after purchasing an additional 142,898 shares during the period. Finally, AIGH Capital Management LLC boosted its holdings in SmartKem by 50.4% during the second quarter. AIGH Capital Management LLC now owns 438,685 shares of the company’s stock worth $439,000 after buying an additional 147,004 shares in the last quarter.

SmartKem Stock Performance

NASDAQ:SMTK traded down $0.03 during mid-day trading on Wednesday, hitting $1.10. 15,923 shares of the company’s stock traded hands, compared to its average volume of 41,909. The company has a fifty day moving average of $1.46 and a 200 day moving average of $1.42. SmartKem has a twelve month low of $0.59 and a twelve month high of $4.25. The company has a market capitalization of $6.75 million, a P/E ratio of -0.48 and a beta of 5.24.

SmartKem (NASDAQ:SMTK) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.45) earnings per share for the quarter. SmartKem had a negative return on equity of 610.88% and a negative net margin of 6,262.36%.The business had revenue of $0.08 million for the quarter.

SmartKem Company Profile

SmartKem plc (NASDAQ: SMTK) is a fabless semiconductor company specializing in the development and commercialization of organic semiconductor materials for thin‐film transistors (TFTs). Headquartered in the United Kingdom, the company has pioneered low‐temperature processable organic materials designed to deliver high performance, energy efficiency and manufacturing flexibility. SmartKem’s solutions target a range of display applications, including flexible, foldable and transparent screens, as well as emerging sensor and Internet of Things (IoT) platforms.

The company’s core product line consists of proprietary organic inks and formulations that can be integrated into existing TFT backplane production lines without the need for costly equipment upgrades.