SmartKem (NASDAQ:SMTK) Announces Earnings Results

SmartKem (NASDAQ:SMTK) announced its earnings results on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, Zacks reports. SmartKem had a negative net margin of 6,262.36% and a negative return on equity of 610.88%. The firm had revenue of $0.56 million during the quarter.

SmartKem Price Performance

Shares of NASDAQ SMTK opened at $0.30 on Thursday. The stock’s fifty day moving average price is $0.31 and its two-hundred day moving average price is $1.16. SmartKem has a one year low of $0.21 and a one year high of $3.80. The firm has a market cap of $2.90 million, a price-to-earnings ratio of -0.13 and a beta of 4.99.

Institutional Trading of SmartKem

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC lifted 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. Rossby Financial LCC lifted its position 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 buying an additional 119,000 shares during the last quarter. Finally, Walleye Capital LLC lifted its position 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 buying an additional 142,898 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average 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.