SmartKem, Inc. (NASDAQ:SMTK) Short Interest Up 483.2% in April

SmartKem, Inc. (NASDAQ:SMTK) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 608,143 shares, an increase of 483.2% from the April 15th total of 104,271 shares. Based on an average daily trading volume, of 837,767 shares, the days-to-cover ratio is currently 0.7 days. Approximately 3.3% of the shares of the company are short sold.

SmartKem Stock Performance

NASDAQ SMTK traded down $0.01 on Tuesday, reaching $0.28. 137,497 shares of the company’s stock traded hands, compared to its average volume of 911,158. The firm has a market cap of $6.09 million, a price-to-earnings ratio of -0.22 and a beta of 3.12. The stock has a 50 day moving average price of $0.27 and a 200-day moving average price of $0.89. SmartKem has a fifty-two week low of $0.15 and a fifty-two week high of $3.80.

SmartKem (NASDAQ:SMTK) last posted its earnings results on Wednesday, April 8th. The company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $0.56 million for the quarter. SmartKem had a negative net margin of 1,507.75% and a negative return on equity of 610.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AIGH Capital Management LLC increased its holdings in SmartKem by 32.7% in the first quarter. AIGH Capital Management LLC now owns 895,449 shares of the company’s stock valued at $204,000 after buying an additional 220,449 shares in the last quarter. Rossby Financial LCC increased its holdings in SmartKem by 110.2% in the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock valued at $242,000 after buying an additional 119,000 shares in the last quarter. PFG Investments LLC purchased a new position in SmartKem in the third quarter valued at $72,000. Corient Private Wealth LLC increased its holdings in SmartKem by 120.8% in 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 in the last quarter. Finally, Walleye Capital LLC increased its holdings in SmartKem by 147.0% in the second quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock valued at $238,000 after buying an additional 142,898 shares in the last quarter.

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.