SmartKem, Inc. (NASDAQ:SMTK) Sees Large Growth in Short Interest

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 104,271 shares, a growth of 215.3% from the March 31st total of 33,074 shares. Based on an average daily volume of 647,935 shares, the short-interest ratio is presently 0.2 days. Approximately 0.5% of the shares of the stock are sold short.

SmartKem Price Performance

Shares of SmartKem stock opened at $0.27 on Monday. SmartKem has a 1 year low of $0.21 and a 1 year high of $3.80. The company has a market capitalization of $5.74 million, a P/E ratio of -0.21 and a beta of 4.99. The business has a 50 day moving average price of $0.27 and a 200 day moving average price of $1.02.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMTK. Corient Private Wealth LLC raised its position in shares of SmartKem by 120.8% during 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 last quarter. PFG Investments LLC acquired a new position in shares of SmartKem during the 3rd quarter worth approximately $72,000. Rossby Financial LCC acquired a new position in shares of SmartKem during the 3rd quarter worth approximately $188,000. Walleye Capital LLC raised 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 worth $238,000 after purchasing an additional 142,898 shares during the last quarter. Finally, AIGH Capital Management LLC raised its position in shares of 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 during 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.