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

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 31,248 shares, an increase of 111.5% from the January 15th total of 14,773 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 133,984 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 133,984 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMTK. Corient Private Wealth LLC grew its position in SmartKem by 120.8% in the 2nd quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock worth $43,000 after purchasing an additional 23,248 shares in the last quarter. PFG Investments LLC purchased a new position in shares of SmartKem in the 3rd quarter worth approximately $72,000. Rossby Financial LCC bought a new position in shares of SmartKem in the third quarter valued at approximately $188,000. Walleye Capital LLC increased its position 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 acquiring an additional 142,898 shares during the last quarter. Finally, AIGH Capital Management LLC lifted its holdings in SmartKem by 50.4% during the second quarter. AIGH Capital Management LLC now owns 438,685 shares of the company’s stock worth $439,000 after acquiring an additional 147,004 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SMTK. Wall Street Zen upgraded SmartKem from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated 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 data from MarketBeat, the company presently has a consensus rating of “Sell”.

SmartKem Stock Down 5.4%

Shares of NASDAQ:SMTK opened at $0.28 on Friday. The business’s 50 day moving average is $1.09 and its 200 day moving average is $1.37. SmartKem has a 12-month low of $0.26 and a 12-month high of $3.90. The stock has a market cap of $1.72 million, a price-to-earnings ratio of -0.12 and a beta of 5.23.

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

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.