SmartKem, Inc. (NASDAQ:SMTK – Get Free Report)’s stock price was up 7.7% during mid-day trading on Friday. The company traded as high as $0.5095 and last traded at $0.4888. 142,559 shares traded hands during trading, a decline of 80% from the average session volume of 697,337 shares. The stock had previously closed at $0.4540.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SMTK. Weiss Ratings cut shares of SmartKem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Wall Street Zen cut SmartKem to a “strong sell” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, SmartKem has an average rating of “Sell”.
SmartKem Price Performance
Hedge Funds Weigh In On SmartKem
An institutional investor recently raised its position in SmartKem stock. AIGH Capital Management LLC lifted its holdings in SmartKem, Inc. (NASDAQ:SMTK – Free Report) by 32.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 895,449 shares of the company’s stock after buying an additional 220,449 shares during the quarter. AIGH Capital Management LLC owned 4.22% of SmartKem worth $204,000 as of its most recent SEC filing.
About SmartKem
SmartKem, Inc (NASDAQ: SMTK) is a materials technology company developing organic semiconductor solutions for flexible and printed electronics. Its technology is designed to enable organic thin-film transistors (OTFTs), which can be produced using low-temperature, solution-based manufacturing processes.
The company develops and supplies semiconductor and dielectric inks, including materials used to form the active layers and insulating components of OTFT devices. These materials are intended for applications such as flexible and conformable displays, sensors, radio-frequency identification devices, and other printed or low-power electronic systems.
SmartKem originated in the United Kingdom and has conducted research and development in the Manchester area.
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