SmartKem, Inc. (NASDAQ:SMTK) Short Interest Down 43.6% in January

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 14,773 shares, a decrease of 43.6% from the December 31st total of 26,215 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 176,235 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 176,235 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.3% of the shares of the company are short sold.

Institutional Trading of SmartKem

Institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. Walleye Capital LLC raised its holdings in shares of SmartKem by 147.0% in the second quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock worth $238,000 after acquiring an additional 142,898 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of SmartKem in the third quarter worth $188,000. PFG Investments LLC purchased a new stake in shares of SmartKem in the third quarter valued at $72,000. Finally, Corient Private Wealth LLC boosted its stake in shares of SmartKem by 120.8% during the second quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock valued at $43,000 after acquiring an additional 23,248 shares during the last quarter.

Analyst Ratings Changes

SMTK has been the subject of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a research report on Wednesday, December 24th. Wall Street Zen raised SmartKem from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SmartKem has an average rating of “Sell”.

SmartKem Price Performance

Shares of SMTK stock traded up $0.06 during trading hours on Friday, reaching $0.80. 243,465 shares of the company’s stock were exchanged, compared to its average volume of 151,258. The company’s 50 day moving average is $1.28 and its two-hundred day moving average is $1.42. The company has a market cap of $4.93 million, a P/E ratio of -0.35 and a beta of 5.24. SmartKem has a 1 year low of $0.57 and a 1 year 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 for the quarter. SmartKem had a negative return on equity of 610.88% and a negative net margin of 6,262.36%.The business had revenue of $0.08 million for 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.