SmartKem, Inc. (NASDAQ:SMTK) Short Interest Up 483.2% in April

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 608,143 shares, an increase of 483.2% from the April 15th total of 104,271 shares. Based on an average daily volume of 837,767 shares, the short-interest ratio is currently 0.7 days. Approximately 3.3% of the company’s stock are short sold.

SmartKem Stock Down 1.7%

Shares of NASDAQ SMTK traded down $0.01 during midday trading on Tuesday, reaching $0.28. 137,497 shares of the company’s stock traded hands, compared to its average volume of 911,158. The stock’s 50 day simple moving average is $0.27 and its 200-day simple moving average is $0.89. SmartKem has a one year low of $0.15 and a one year high of $3.80. The company has a market cap of $6.09 million, a price-to-earnings ratio of -0.22 and a beta of 3.12.

SmartKem (NASDAQ:SMTK) last announced its earnings results on Wednesday, April 8th. The company reported ($0.21) earnings per share for the quarter. The firm had revenue of $0.56 million during the quarter. SmartKem had a negative net margin of 1,507.75% and a negative return on equity of 610.88%.

Institutional Investors Weigh In On SmartKem

Several institutional investors have recently bought and sold shares of the company. AIGH Capital Management LLC boosted 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 acquiring an additional 220,449 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of SmartKem by 147.0% during the second quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock worth $238,000 after buying an additional 142,898 shares during the period. Rossby Financial LCC lifted 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 buying an additional 119,000 shares during the period. PFG Investments LLC acquired a new stake in shares of SmartKem during the third quarter worth $72,000. Finally, Corient Private Wealth LLC lifted its stake in shares of SmartKem by 120.8% during the second 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 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.