SmartKem, Inc. (NASDAQ:SMTK) Sees Significant Decline in Short Interest

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a large drop in short interest in 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. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 176,235 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 176,235 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.3% of the shares of the stock are sold short.

SmartKem Trading Up 10.8%

SmartKem stock traded up $0.08 during mid-day trading on Friday, reaching $0.82. The company’s stock had a trading volume of 129,359 shares, compared to its average volume of 156,846. SmartKem has a twelve month low of $0.57 and a twelve month high of $3.90. The business has a 50 day moving average price of $1.29 and a 200-day moving average price of $1.41. The firm has a market cap of $5.03 million, a price-to-earnings ratio of -0.36 and a beta of 5.24.

SmartKem (NASDAQ:SMTK) last released its quarterly earnings data 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.

Institutional Trading of SmartKem

A number of large investors have recently modified their holdings of SMTK. Rossby Financial LCC bought a new stake in SmartKem in the 3rd quarter valued at about $188,000. PFG Investments LLC acquired a new stake in shares of SmartKem in the third quarter valued at approximately $72,000. Corient Private Wealth LLC raised its holdings 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 buying an additional 23,248 shares during the last quarter. Walleye Capital LLC grew its holdings in SmartKem by 147.0% in 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 in the last quarter. Finally, AIGH Capital Management LLC increased its position in SmartKem by 50.4% in 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 during the period.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen raised SmartKem from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of SmartKem in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, SmartKem has an average rating of “Sell”.

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.