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

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

Smartkem Price Performance

Shares of SMTK stock traded down $0.43 during mid-day trading on Friday, reaching $3.01. The stock had a trading volume of 286,828 shares, compared to its average volume of 77,745. The firm’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $3.36. Smartkem has a one year low of $2.01 and a one year high of $16.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bleichroeder LP bought a new stake in shares of Smartkem in the 4th quarter worth about $483,000. MYDA Advisors LLC bought a new stake in Smartkem during the fourth quarter worth about $967,000. Finally, AIGH Capital Management LLC increased its holdings in shares of Smartkem by 16.2% during the fourth quarter. AIGH Capital Management LLC now owns 156,487 shares of the company’s stock worth $456,000 after buying an additional 21,800 shares in the last quarter.

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.