Smartkem, Inc. (NASDAQ:SMTK) Sees Significant Drop in Short Interest

Smartkem, Inc. (NASDAQ:SMTK) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 600 shares, a drop of 25.0% from the August 15th total of 800 shares. Based on an average daily trading volume, of 8,300 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Smartkem

An institutional investor recently bought a new position in Smartkem stock. AIGH Capital Management LLC acquired a new stake in shares of Smartkem, Inc. (NASDAQ:SMTK) in the second quarter, according to the company in its most recent filing with the SEC. The firm 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 SMTK stock traded down $0.20 during mid-day trading on Friday, hitting $6.10. 648 shares of the stock traded hands, compared to its average volume of 17,421. The stock’s fifty day moving average price is $5.68. Smartkem has a 52-week low of $1.50 and a 52-week high of $19.00.

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

Smartkem Company Profile

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.