SmartKem (NASDAQ:SMTK) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of SmartKem (NASDAQ:SMTK) to a strong sell rating in a research note published on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a research note on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SmartKem has an average rating of “Sell”.

SmartKem Stock Down 14.0%

Shares of SmartKem stock opened at $4.41 on Friday. SmartKem has a twelve month low of $3.52 and a twelve month high of $190.00. The company’s 50 day moving average is $10.06 and its 200 day moving average is $13.33. The company has a market cap of $2.51 million, a price-to-earnings ratio of -0.04 and a beta of 3.80.

Institutional Trading of SmartKem

Large investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC increased 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 buying an additional 249,723 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of SmartKem by 147.0% during the 2nd 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 boosted its stake in shares of SmartKem by 110.2% during the 4th 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. Finally, Corient Private Wealth LLC grew its position 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 valued at $43,000 after acquiring 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.