SmartKem, Inc. (NASDAQ:SMTK) Sees Large Increase in Short Interest

SmartKem, Inc. (NASDAQ:SMTK) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 608,143 shares, a growth of 483.2% from the April 15th total of 104,271 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 837,767 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of SmartKem

A number of institutional investors and hedge funds have recently made changes to their positions in SMTK. AIGH Capital Management LLC raised its position in shares of SmartKem by 58.7% in the 4th quarter. AIGH Capital Management LLC now owns 675,000 shares of the company’s stock worth $719,000 after buying an additional 249,723 shares during the period. Walleye Capital LLC increased its stake in 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 acquiring an additional 142,898 shares during the last quarter. Rossby Financial LCC increased its stake in 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 acquiring an additional 119,000 shares during the last quarter. PFG Investments LLC purchased a new position in shares of SmartKem in the 3rd quarter worth about $72,000. Finally, Corient Private Wealth LLC lifted its stake in shares of 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 in the last quarter.

SmartKem Price Performance

SmartKem stock traded down $0.04 during mid-day trading on Thursday, reaching $0.23. The company had a trading volume of 748,143 shares, compared to its average volume of 901,732. The stock’s 50-day simple moving average is $0.27 and its 200-day simple moving average is $0.85. SmartKem has a 1 year low of $0.15 and a 1 year high of $3.80. The company has a market capitalization of $4.93 million, a P/E ratio of -0.18 and a beta of 3.12.

SmartKem (NASDAQ:SMTK) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.21) EPS for the quarter. The firm 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 1,507.75%.

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.