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

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 26,215 shares, a drop of 60.6% from the December 15th total of 66,461 shares. Based on an average trading volume of 59,348 shares, the short-interest ratio is presently 0.4 days. Currently, 0.5% of the company’s stock are sold short. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 59,348 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

A number of equities analysts have recently weighed in 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 restated a “sell (e+)” rating on shares of SmartKem in a research note on Wednesday, December 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of SmartKem

Several institutional investors have recently made changes to their positions in SMTK. Corient Private Wealth LLC raised its holdings 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 purchasing an additional 23,248 shares during the last quarter. PFG Investments LLC bought a new stake in SmartKem in the 3rd quarter worth about $72,000. Rossby Financial LCC purchased a new stake in SmartKem in the 3rd quarter valued at about $188,000. Walleye Capital LLC increased its stake in SmartKem by 147.0% in 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. Finally, AIGH Capital Management LLC lifted its position 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 buying an additional 147,004 shares in the last quarter.

SmartKem Stock Up 0.4%

Shares of SmartKem stock opened at $1.12 on Thursday. The company has a market cap of $6.90 million, a PE ratio of -0.46 and a beta of 5.24. SmartKem has a 52 week low of $0.59 and a 52 week high of $4.25. The business has a 50 day moving average price of $1.45 and a 200-day moving average price of $1.42.

SmartKem (NASDAQ:SMTK) last announced its earnings results 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 company had revenue of $0.08 million for the 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.