Smartkem (NASDAQ:SMTK) Stock Price Down 4.3% – Time to Sell?

Shares of Smartkem, Inc. (NASDAQ:SMTK) fell 4.3% during mid-day trading on Wednesday . The company traded as low as $2.28 and last traded at $2.45. 26,088 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 51,102 shares. The stock had previously closed at $2.56.

Smartkem Price Performance

The stock’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $3.78.

Hedge Funds Weigh In On Smartkem

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC raised its position in Smartkem by 16.2% in the fourth 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. Bleichroeder LP purchased a new position in shares of Smartkem during the fourth quarter valued at approximately $483,000. Finally, MYDA Advisors LLC bought a new stake in shares of Smartkem during the fourth quarter valued at 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.