Smartkem, Inc. (NASDAQ:SMTK) Sees Significant Decrease in Short Interest

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 9,500 shares, a decline of 36.2% from the February 28th total of 14,900 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 58,100 shares, the days-to-cover ratio is presently 0.2 days.

Smartkem Price Performance

Smartkem stock traded down $0.06 during midday trading on Monday, hitting $2.95. 114,477 shares of the stock were exchanged, compared to its average volume of 77,899. The stock’s 50-day simple moving average is $2.82 and its 200 day simple moving average is $3.33. Smartkem has a fifty-two week low of $2.01 and a fifty-two week high of $16.00.

Institutional Trading of Smartkem

Hedge funds and other institutional investors have recently made changes to their positions in the company. AIGH Capital Management LLC increased its stake in Smartkem by 16.2% during the fourth quarter. AIGH Capital Management LLC now owns 156,487 shares of the company’s stock worth $456,000 after acquiring an additional 21,800 shares during the last quarter. MYDA Advisors LLC purchased a new stake in Smartkem in the 4th quarter valued at about $967,000. Finally, Bleichroeder LP acquired a new position in Smartkem in the fourth quarter valued at about $483,000.

Smartkem Company Profile

SmartKem, Inc engages in the development of materials and processes used to make organic thin-film transistors for the manufacture of flexible electronic. It focuses on Truflex semiconductor technology that deposits organic ink on a substrate. The company was founded on September 21, 2018 and is headquartered in Blackley, the United Kingdom.