Short Interest in SmartKem, Inc. (NASDAQ:SMTK) Grows By 274.2%

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,460,778 shares, an increase of 274.2% from the May 31st total of 390,407 shares. Currently, 7.1% of the company’s stock are short sold. Based on an average daily volume of 51,820,583 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of SmartKem

A number of large investors have recently made changes to their positions in SMTK. Corient Private Wealth LLC grew its stake in SmartKem by 120.8% during the 2nd quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock worth $43,000 after buying an additional 23,248 shares during the last quarter. AIGH Capital Management LLC lifted its stake in SmartKem by 32.7% in the first quarter. AIGH Capital Management LLC now owns 895,449 shares of the company’s stock valued at $204,000 after buying an additional 220,449 shares during the last quarter. Walleye Capital LLC lifted its stake in SmartKem by 147.0% in the second quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock valued at $238,000 after buying an additional 142,898 shares during the last quarter. Finally, Rossby Financial LCC boosted its holdings in shares of SmartKem by 110.2% in the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock valued at $242,000 after acquiring an additional 119,000 shares during the period.

Analyst Ratings Changes

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

SmartKem Stock Up 4.9%

SMTK traded up $0.01 on Friday, reaching $0.24. The company had a trading volume of 901,675 shares, compared to its average volume of 30,307,132. SmartKem has a 1 year low of $0.15 and a 1 year high of $3.80. The stock has a market capitalization of $5.23 million, a PE ratio of -0.11 and a beta of 3.73. The stock has a 50-day moving average price of $0.30 and a 200-day moving average price of $0.57.

SmartKem (NASDAQ:SMTK) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.21) earnings per share (EPS) for the quarter. The company had revenue of $0.56 million during the quarter. SmartKem had a negative net margin of 3,997.69% and a negative return on equity of 610.88%.

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.