SmartKem, Inc. (NASDAQ:SMTK) Short Interest Update

SmartKem, Inc. (NASDAQ:SMTK – Get Free Report) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 713,749 shares, a decrease of 40.9% from the June 30th total of 1,208,206 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 469,973 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a report on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

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Institutional Trading of SmartKem

A number of hedge funds and other institutional investors have recently modified their holdings of SMTK. Corient Private Wealth LLC grew its holdings in SmartKem by 120.8% in the second quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock worth $43,000 after purchasing an additional 23,248 shares during the period. Rossby Financial LCC boosted its holdings in SmartKem by 110.2% in 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 in the last quarter. Walleye Capital LLC boosted its holdings 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 acquiring an additional 142,898 shares in the last quarter. Finally, AIGH Capital Management LLC grew its stake in shares of 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 acquiring an additional 249,723 shares during the last quarter.

SmartKem Stock Performance

Shares of NASDAQ SMTK traded down $0.01 during midday trading on Thursday, hitting $0.20. 36,243 shares of the company traded hands, compared to its average volume of 4,924,414. SmartKem has a 12-month low of $0.15 and a 12-month high of $3.80. The stock has a 50-day moving average price of $0.27 and a 200 day moving average price of $0.36. The firm has a market cap of $4.25 million, a P/E ratio of -0.09 and a beta of 3.79.

About SmartKem

(Get Free Report)

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.

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