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

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 26,200 shares, an increase of 4,266.7% from the August 31st total of 600 shares. Based on an average daily volume of 10,900 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Smartkem

A hedge fund recently bought a new stake in Smartkem stock. AIGH Capital Management LLC acquired a new position in shares of Smartkem, Inc. (NASDAQ:SMTK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 134,687 shares of the company’s stock, valued at approximately $772,000. AIGH Capital Management LLC owned about 9.35% of Smartkem as of its most recent filing with the SEC.

Smartkem Stock Performance

Shares of NASDAQ:SMTK traded down $0.23 on Friday, reaching $4.35. The company’s stock had a trading volume of 45,420 shares, compared to its average volume of 8,024. Smartkem has a 52-week low of $1.75 and a 52-week high of $19.00. The business has a 50-day moving average price of $5.51.

Smartkem (NASDAQ:SMTK) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.98) EPS for the quarter. The business had revenue of $0.04 million during the quarter.

About Smartkem

SmartKem, Inc, together with its subsidiaries, develops materials and processes used to make organic thin-film (OTFT) transistors for the manufacture of flexible electronics. The company offers TRUFLEX semiconductor and dielectric inks, which uses low temperature printing processes to make transistors for the display industry.