SmartKem, Inc. (NASDAQ:SMTK) Short Interest Update
by Mitch Edgeman · The Markets DailySmartKem, Inc. (NASDAQ:SMTK – Get Free Report) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,460,778 shares, a growth of 274.2% from the May 31st total of 390,407 shares. Currently, 7.1% of the shares of the company are short sold. Based on an average daily trading volume, of 51,820,583 shares, the short-interest ratio is presently 0.0 days.
SmartKem Price Performance
Shares of SMTK traded up $0.01 during trading hours on Friday, hitting $0.24. The company had a trading volume of 901,675 shares, compared to its average volume of 30,321,936. The business has a fifty day moving average of $0.30 and a 200-day moving average of $0.56. SmartKem has a 12 month low of $0.15 and a 12 month high of $3.80.
SmartKem (NASDAQ:SMTK – Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.21) EPS for the quarter. The company had revenue of $0.56 million for the quarter. SmartKem had a negative return on equity of 610.88% and a negative net margin of 3,997.69%.
Analyst Ratings Changes
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 has a consensus rating of “Sell”.
Check Out Our Latest Analysis on SMTK
Hedge Funds Weigh In On SmartKem
Several institutional investors and hedge funds have recently made changes to their positions in SMTK. Corient Private Wealth LLC boosted its stake in SmartKem by 120.8% in the 2nd 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 period. Rossby Financial LCC lifted its holdings in shares of SmartKem by 110.2% during the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock worth $242,000 after buying an additional 119,000 shares in the last quarter. Walleye Capital LLC lifted its holdings in shares of SmartKem by 147.0% during the second quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock worth $238,000 after buying an additional 142,898 shares in the last quarter. Finally, AIGH Capital Management LLC boosted its position in shares of SmartKem by 58.7% in the fourth quarter. AIGH Capital Management LLC now owns 675,000 shares of the company’s stock valued at $719,000 after acquiring an additional 249,723 shares during the period.
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.