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

SmartKem, Inc. (NASDAQ:SMTK) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 713,749 shares, a drop of 40.9% from the June 30th total of 1,208,206 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 469,973 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SmartKem in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of SmartKem

A number of institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC raised its stake in shares of 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 purchasing an additional 142,898 shares in the last quarter. Corient Private Wealth LLC boosted its stake in SmartKem by 120.8% during the second quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock worth $43,000 after buying an additional 23,248 shares in the last quarter. AIGH Capital Management LLC increased its holdings in SmartKem by 58.7% in the 4th quarter. AIGH Capital Management LLC now owns 675,000 shares of the company’s stock valued at $719,000 after buying an additional 249,723 shares during the period. Finally, Rossby Financial LCC raised its stake in shares of SmartKem by 110.2% in the 4th 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.

SmartKem Stock Up 2.3%

SmartKem stock opened at $0.22 on Friday. The business has a 50 day moving average price of $0.27 and a two-hundred day moving average price of $0.35. SmartKem has a 12 month low of $0.15 and a 12 month high of $3.80. The stock has a market cap of $4.61 million, a price-to-earnings ratio of -0.09 and a beta of 3.79.

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.