Short Interest in SmartKem, Inc. (NASDAQ:SMTK) Grows By 111.5%

SmartKem, Inc. (NASDAQ:SMTK) saw a large increase in short interest during the month of 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 shares 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 shares are short sold.

Analyst Ratings Changes

Several research firms recently commented on SMTK. Wall Street Zen raised shares of 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 note on Wednesday, December 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of SmartKem

A number of large investors have recently added to or reduced their stakes in SMTK. AIGH Capital Management LLC increased its stake in shares of SmartKem by 50.4% during the 2nd quarter. AIGH Capital Management LLC now owns 438,685 shares of the company’s stock worth $439,000 after purchasing an additional 147,004 shares during the last quarter. Rossby Financial LCC grew its holdings in SmartKem by 110.2% during the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock valued at $242,000 after purchasing an additional 119,000 shares during the period. PFG Investments LLC purchased a new stake in SmartKem in the third quarter worth $72,000. Corient Private Wealth LLC raised its stake in shares of 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 during the period. Finally, Walleye Capital LLC lifted its position in shares of SmartKem by 147.0% during the 2nd 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 during the last quarter.

SmartKem Stock Down 5.4%

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

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

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.