Short Interest in Smartkem, Inc. (NASDAQ:SMTK) Decreases By 40.4%

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 32,700 shares, a decrease of 40.4% from the April 30th total of 54,900 shares. Based on an average daily volume of 70,200 shares, the short-interest ratio is presently 0.5 days. Approximately 0.9% of the shares of the stock are sold short.

Smartkem Stock Up 7.9%

SMTK traded up $0.10 during trading on Monday, reaching $1.42. The stock had a trading volume of 16,019 shares, compared to its average volume of 87,872. The firm has a market capitalization of $6.31 million and a price-to-earnings ratio of -0.42. Smartkem has a 1-year low of $1.00 and a 1-year high of $8.25. The stock has a 50 day moving average of $2.17 and a two-hundred day moving average of $2.86.

Smartkem (NASDAQ:SMTK) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter. The business had revenue of $0.02 million during the quarter.

Hedge Funds Weigh In On Smartkem

Hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC grew its holdings in shares of Smartkem by 16.2% in the 4th quarter. AIGH Capital Management LLC now owns 156,487 shares of the company’s stock worth $456,000 after acquiring an additional 21,800 shares during the last quarter. Bleichroeder LP acquired a new position in shares of Smartkem in the 4th quarter worth $483,000. Finally, MYDA Advisors LLC acquired a new position in shares of Smartkem in the 4th quarter worth $967,000.

Smartkem Company Profile

SmartKem, Inc engages in the development of materials and processes used to make organic thin-film transistors for the manufacture of flexible electronic. It focuses on Truflex semiconductor technology that deposits organic ink on a substrate. The company was founded on September 21, 2018 and is headquartered in Blackley, the United Kingdom.