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

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 9,500 shares, a drop of 36.2% from the February 28th total of 14,900 shares. Based on an average trading volume of 58,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

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

Smartkem Stock Performance

SMTK stock traded down $0.43 during trading hours on Friday, hitting $3.01. The company’s stock had a trading volume of 286,828 shares, compared to its average volume of 77,745. The stock has a 50 day moving average price of $2.82 and a two-hundred day moving average price of $3.36. Smartkem has a 12 month low of $2.01 and a 12 month high of $16.00.

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.