SmartKem (NASDAQ:SMTK) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of SmartKem (NASDAQ:SMTK – Free Report) to a strong sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SmartKem in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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SmartKem Trading Down 15.6%

SMTK stock opened at $3.72 on Friday. SmartKem has a 1-year low of $3.53 and a 1-year high of $190.00. The firm has a market cap of $2.12 million, a P/E ratio of -0.03 and a beta of 3.80. The business’s 50 day moving average is $9.84 and its 200-day moving average is $13.00.

Hedge Funds Weigh In On SmartKem

Several institutional investors have recently added to or reduced their stakes in SMTK. Corient Private Wealth LLC boosted its position in SmartKem by 120.8% in the second quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock valued at $43,000 after buying an additional 23,248 shares in the last quarter. Rossby Financial LCC increased its holdings 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 buying an additional 119,000 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of 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 buying an additional 142,898 shares in the last quarter. Finally, AIGH Capital Management LLC raised 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 valued at $719,000 after acquiring an additional 249,723 shares during the last quarter.

SmartKem Company Profile

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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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