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

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 115,344 shares, a decline of 90.3% from the August 15th total of 1,188,126 shares. Based on an average daily trading volume, of 854,134 shares, the short-interest ratio is currently 0.1 days. Approximately 21.2% of the shares of the stock are short sold.

SmartKem Stock Performance

NASDAQ SMTK traded down $0.05 during trading on Friday, hitting $2.24. The stock had a trading volume of 65,657 shares, compared to its average volume of 570,553. SmartKem has a one year low of $2.12 and a one year high of $190.00. The stock has a 50 day simple moving average of $6.95 and a 200 day simple moving average of $11.64. The stock has a market capitalization of $1.28 million, a price-to-earnings ratio of -0.02 and a beta of 3.51.

Hedge Funds Weigh In On SmartKem

Large investors have recently bought and sold shares of the business. AIGH Capital Management LLC increased its stake in SmartKem by 32.7% in the first quarter. AIGH Capital Management LLC now owns 895,449 shares of the company’s stock worth $204,000 after purchasing an additional 220,449 shares during the period. Rossby Financial LCC lifted its position in shares of SmartKem by 110.2% during the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock worth $242,000 after purchasing an additional 119,000 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of SmartKem by 147.0% during the second 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, Corient Private Wealth LLC boosted its stake in shares of 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 purchasing an additional 23,248 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMTK. Wall Street Zen downgraded shares of SmartKem to a “strong sell” rating in a report on Saturday, August 22nd. Weiss Ratings upgraded SmartKem from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

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.