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

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of SmartKem from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed 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, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of SmartKem

A number of institutional investors have recently bought and sold shares of the stock. Rossby Financial LCC purchased a new position in SmartKem during the 3rd quarter valued at about $188,000. PFG Investments LLC purchased a new position in SmartKem during the third quarter valued at approximately $72,000. Corient Private Wealth LLC raised its stake in SmartKem by 120.8% in the second 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 in the last quarter. Walleye Capital LLC lifted its holdings in SmartKem by 147.0% during the second 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. Finally, AIGH Capital Management LLC boosted 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 acquiring an additional 147,004 shares in the last quarter.

SmartKem Price Performance

Shares of 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. SmartKem has a 1 year low of $0.59 and a 1 year high of $4.25. The company’s 50-day moving average is $1.46 and its two-hundred day moving average is $1.42. 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 data on Thursday, November 13th. The company reported ($0.45) earnings per share (EPS) for the quarter. The company 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.