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

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a large drop in short interest in the month of 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 daily trading volume, of 58,100 shares, the short-interest ratio is presently 0.2 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Trading of Smartkem

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MYDA Advisors LLC bought a new position in shares of Smartkem during the fourth quarter worth approximately $967,000. Bleichroeder LP acquired a new stake in Smartkem during the fourth quarter worth approximately $483,000. Finally, AIGH Capital Management LLC increased 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 worth $456,000 after acquiring an additional 21,800 shares during the period.

Smartkem Stock Down 12.5 %

Shares of SMTK traded down $0.43 during midday trading on Friday, reaching $3.01. 286,828 shares of the stock were exchanged, compared to its average volume of 77,745. The stock’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $3.35. Smartkem has a twelve month low of $2.01 and a twelve month high of $16.00.

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.