Short Interest in SmartKem, Inc. (NASDAQ:SMTK) Declines By 26.2%

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 100,595 shares, a decrease of 26.2% from the February 12th total of 136,357 shares. Based on an average daily volume of 247,866 shares, the short-interest ratio is currently 0.4 days. Approximately 1.9% of the shares of the company are sold short. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 247,866 shares, the short-interest ratio is currently 0.4 days.

SmartKem Trading Down 1.3%

NASDAQ SMTK traded down $0.00 on Friday, reaching $0.26. 120,166 shares of the stock were exchanged, compared to its average volume of 367,305. SmartKem has a one year low of $0.22 and a one year high of $3.90. The firm has a market capitalization of $1.59 million, a PE ratio of -0.11 and a beta of 5.97. The company’s 50-day simple moving average is $0.60 and its two-hundred day simple moving average is $1.30.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMTK. Wall Street Zen upgraded shares of SmartKem from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of SmartKem in a research note on Wednesday, December 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SmartKem currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AIGH Capital Management LLC raised its holdings in SmartKem by 58.7% during 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. Walleye Capital LLC boosted 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 worth $238,000 after acquiring an additional 142,898 shares during the period. Rossby Financial LCC grew its position 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 purchasing an additional 119,000 shares in the last quarter. PFG Investments LLC bought a new stake in SmartKem during the 3rd quarter valued at approximately $72,000. Finally, Corient Private Wealth LLC raised its stake in SmartKem by 120.8% during 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.

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.