Smartkem, Inc. (NASDAQ:SMTK) Short Interest Down 36.2% in March

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC lifted its holdings in Smartkem by 16.2% during the 4th quarter. AIGH Capital Management LLC now owns 156,487 shares of the company’s stock valued at $456,000 after purchasing an additional 21,800 shares during the last quarter. Bleichroeder LP acquired a new stake in shares of Smartkem during the 4th quarter worth about $483,000. Finally, MYDA Advisors LLC bought a new stake in shares of Smartkem during the 4th quarter worth about $967,000.

Smartkem Trading Down 12.5 %

Smartkem stock traded down $0.43 during midday trading on Friday, reaching $3.01. 286,828 shares of the company’s 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 52 week low of $2.01 and a 52 week high of $16.00.

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.