SmartKem, Inc. (NASDAQ:SMTK) Short Interest Down 26.2% in February

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

Institutional Trading of SmartKem

Large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings in shares of SmartKem by 120.8% during the 2nd quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock worth $43,000 after acquiring an additional 23,248 shares in the last quarter. PFG Investments LLC purchased a new position in shares of SmartKem in the third quarter valued at $72,000. Rossby Financial LCC purchased a new position in shares of SmartKem in the third quarter valued at $188,000. Walleye Capital LLC increased its position in 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 purchasing an additional 142,898 shares during the last quarter. Finally, AIGH Capital Management LLC increased its position in SmartKem by 58.7% in the fourth quarter. AIGH Capital Management LLC now owns 675,000 shares of the company’s stock worth $719,000 after purchasing an additional 249,723 shares during the last quarter.

SmartKem Price Performance

Shares of SMTK stock traded down $0.00 during trading hours on Friday, hitting $0.26. The stock had a trading volume of 120,166 shares, compared to its average volume of 367,305. The stock has a market capitalization of $1.59 million, a price-to-earnings ratio of -0.11 and a beta of 5.97. SmartKem has a one year low of $0.22 and a one year high of $3.90. The stock’s 50-day moving average price is $0.60 and its two-hundred day moving average price is $1.30.

Analysts Set New Price Targets

Several equities analysts have recently commented on SMTK shares. Weiss Ratings reissued a “sell (e+)” rating on shares of SmartKem in a report on Wednesday, December 24th. Wall Street Zen raised shares of SmartKem from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.