SmartKem (NASDAQ:SMTK) Issues Quarterly Earnings Results

SmartKem (NASDAQ:SMTK) posted its quarterly earnings results on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, Zacks reports. SmartKem had a negative net margin of 6,262.36% and a negative return on equity of 610.88%.

SmartKem Trading Up 34.1%

SmartKem stock opened at $0.33 on Thursday. The firm has a market capitalization of $3.25 million, a P/E ratio of -0.15 and a beta of 4.99. SmartKem has a 1 year low of $0.21 and a 1 year high of $3.80. The business has a 50-day moving average of $0.31 and a 200-day moving average of $1.16.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a report on Wednesday, December 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On SmartKem

Several institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC grew its position in shares of SmartKem by 120.8% during the 2nd quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock worth $43,000 after buying an additional 23,248 shares during the period. Rossby Financial LCC grew its position in shares of SmartKem by 110.2% during the 4th quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock worth $242,000 after buying an additional 119,000 shares during the period. Finally, Walleye Capital LLC grew its position in shares of 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 buying an additional 142,898 shares during the period.

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.