SmartKem, Inc. (NASDAQ:SMTK) Shares Shorted: Short Interest Up 334.6% in October

SmartKem, Inc. (NASDAQ:SMTK) saw a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 432,313 shares, a growth of 334.6% from the October 15th total of 99,473 shares. Approximately 79.3% of the shares of the company are short sold. Based on an average daily trading volume, of 620,573 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SMTK shares. Weiss Ratings cut shares of SmartKem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 25th. Wall Street Zen lowered shares of SmartKem to a “strong sell” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has an average rating of “Sell”.

SmartKem Price Performance

Shares of SMTK opened at $0.20 on Friday. The stock’s fifty day moving average is $1.13 and its 200-day moving average is $10.19. SmartKem has a one year low of $0.17 and a one year high of $100.00.

SmartKem (NASDAQ:SMTK) last released its quarterly earnings results on Friday, November 13th. The company reported ($1.94) EPS for the quarter. SmartKem had a negative return on equity of 520.47% and a negative net margin of 3,997.69%. The company had revenue of $0.00 million for the quarter.

About SmartKem

SmartKem, Inc. is a materials technology company that develops organic semiconductor inks and related materials for use in printed and flexible electronics. Its technology is based on organic thin-film transistor (OTFT) materials designed to enable electronic circuits to be manufactured at relatively low temperatures using printing and other scalable production processes. The company’s product portfolio includes its truFLEX® family of organic semiconductor inks and associated materials. These products are intended for applications such as flexible and conformable displays, image and fingerprint sensors, radio-frequency identification (RFID), near-field communication (NFC), and other printed electronic devices.