Smartkem, Inc. (NASDAQ:SMTK) Short Interest Update

Smartkem, Inc. (NASDAQ:SMTK) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 62,900 shares, an increase of 562.1% from the March 15th total of 9,500 shares. Based on an average daily trading volume, of 66,200 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.3% of the shares of the stock are sold short.

Smartkem Price Performance

Shares of NASDAQ:SMTK traded up $0.04 during midday trading on Monday, reaching $2.46. 12,071 shares of the company’s stock were exchanged, compared to its average volume of 80,035. The company’s 50 day simple moving average is $2.67 and its two-hundred day simple moving average is $3.14. Smartkem has a 12 month low of $2.01 and a 12 month high of $16.00.

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

Institutional Inflows and Outflows

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

About Smartkem

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.