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

SmartKem, Inc. (NASDAQ:SMTK) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 14,773 shares, a drop of 43.6% from the December 31st total of 26,215 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 176,235 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 176,235 shares, the short-interest ratio is currently 0.1 days. Approximately 0.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SMTK shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a research note 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 analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SmartKem has a consensus rating of “Sell”.

Institutional Trading of SmartKem

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

SmartKem Stock Performance

NASDAQ:SMTK opened at $0.80 on Friday. SmartKem has a fifty-two week low of $0.57 and a fifty-two week high of $3.90. The firm has a 50-day simple moving average of $1.28 and a two-hundred day simple moving average of $1.41. The firm has a market cap of $4.93 million, a P/E ratio of -0.35 and a beta of 5.24.

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

About SmartKem

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.