SmartKem (NASDAQ:SMTK) Posts Earnings Results

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

SmartKem Price Performance

Shares of NASDAQ:SMTK opened at $0.28 on Thursday. The business’s fifty day moving average price is $0.31 and its two-hundred day moving average price is $1.16. SmartKem has a fifty-two week low of $0.21 and a fifty-two week high of $3.80. The stock has a market capitalization of $2.75 million, a price-to-earnings ratio of -0.13 and a beta of 4.99.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its stake in SmartKem by 120.8% in the second 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 last quarter. Rossby Financial LCC grew its stake in shares of SmartKem by 110.2% during the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock worth $242,000 after purchasing an additional 119,000 shares during the period. Finally, 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 period.

About SmartKem

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.