Smartkem, Inc. (NASDAQ:SMTK) Sees Large Growth in Short Interest

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 62,900 shares, a growth of 562.1% from the March 15th total of 9,500 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily volume of 66,200 shares, the short-interest ratio is currently 1.0 days.

Smartkem Price Performance

NASDAQ SMTK traded up $0.04 during trading on Monday, hitting $2.46. 12,071 shares of the company traded hands, compared to its average volume of 80,035. Smartkem has a 12 month low of $2.01 and a 12 month high of $16.00. The business has a fifty day simple moving average of $2.67 and a 200 day simple moving average of $3.14.

Smartkem (NASDAQ:SMTK) last issued its quarterly earnings data on Tuesday, April 1st. The company reported ($1.20) earnings per share for the quarter. The company had revenue of $0.04 million during the quarter.

Institutional Trading of Smartkem

A number of institutional investors and hedge funds have recently modified their holdings of the company. AIGH Capital Management LLC raised its holdings in Smartkem by 16.2% in the 4th 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 period. Bleichroeder LP acquired a new stake in shares of Smartkem in the fourth quarter valued at about $483,000. Finally, MYDA Advisors LLC bought a new position in shares of Smartkem in the fourth quarter worth about $967,000.

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.