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

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a significant growth in short interest during the month of 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. Currently, 2.3% of the company’s shares are short sold. Based on an average trading volume of 66,200 shares, the days-to-cover ratio is presently 1.0 days.

Smartkem Stock Performance

NASDAQ:SMTK traded up $0.09 on Tuesday, hitting $2.55. 1,898 shares of the stock were exchanged, compared to its average volume of 79,719. Smartkem has a fifty-two week low of $2.01 and a fifty-two week high of $16.00. The stock has a fifty day moving average of $2.66 and a 200-day moving average of $3.12.

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

Hedge Funds Weigh In On Smartkem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMTK. AIGH Capital Management LLC raised its holdings in Smartkem by 16.2% in the fourth quarter. AIGH Capital Management LLC now owns 156,487 shares of the company’s stock valued at $456,000 after acquiring an additional 21,800 shares in the last quarter. Bleichroeder LP acquired a new stake in Smartkem in the fourth quarter worth $483,000. Finally, MYDA Advisors LLC acquired a new stake in shares of Smartkem in the 4th 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.