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

SmartKem, Inc. (NASDAQ:SMTK) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 100,595 shares, a decline of 26.2% from the February 12th total of 136,357 shares. Based on an average trading volume of 247,866 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.9% of the company’s stock are sold short. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 247,866 shares, the days-to-cover ratio is presently 0.4 days.

SmartKem Price Performance

Shares of NASDAQ SMTK traded down $0.00 during mid-day trading on Friday, hitting $0.26. The company had a trading volume of 120,166 shares, compared to its average volume of 367,305. The stock has a market cap of $1.59 million, a price-to-earnings ratio of -0.11 and a beta of 5.97. SmartKem has a 12 month low of $0.22 and a 12 month high of $3.90. The firm’s 50 day simple moving average is $0.60 and its two-hundred day simple moving average is $1.30.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SMTK shares. Wall Street Zen raised SmartKem from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, SmartKem has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SMTK. Walleye Capital LLC raised 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 in the last quarter. Rossby Financial LCC boosted its stake in SmartKem by 110.2% in the 4th 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 period. Corient Private Wealth LLC boosted its stake 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 during the period. AIGH Capital Management LLC grew its position in SmartKem by 58.7% during the 4th quarter. AIGH Capital Management LLC now owns 675,000 shares of the company’s stock worth $719,000 after purchasing an additional 249,723 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in SmartKem during the 3rd quarter worth approximately $72,000.

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.