SmartKem, Inc. (NASDAQ:SMTK) Sees Significant Growth in Short Interest

SmartKem, Inc. (NASDAQ:SMTK) was the recipient of a significant increase in short interest in October. As of October 30th, there was short interest totaling 432,313 shares, an increase of 334.6% from the October 15th total of 99,473 shares. Approximately 79.3% of the company’s stock are sold short. Based on an average daily volume of 620,573 shares, the days-to-cover ratio is presently 0.7 days.

SmartKem Trading Down 16.6%

Shares of SmartKem stock traded down $0.04 during trading on Friday, hitting $0.19. 547,691 shares of the stock were exchanged, compared to its average volume of 398,662. The stock has a market capitalization of $106,020.00, a price-to-earnings ratio of -0.00 and a beta of 4.18. The company has a fifty day moving average price of $1.18 and a 200-day moving average price of $10.38. SmartKem has a 1-year low of $0.17 and a 1-year high of $100.00.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings lowered SmartKem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Wall Street Zen downgraded SmartKem to a “strong sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.

SmartKem Company Profile

SmartKem, Inc. is a materials technology company that develops organic semiconductor inks and related materials for use in printed and flexible electronics. Its technology is based on organic thin-film transistor (OTFT) materials designed to enable electronic circuits to be manufactured at relatively low temperatures using printing and other scalable production processes. The company’s product portfolio includes its truFLEX® family of organic semiconductor inks and associated materials. These products are intended for applications such as flexible and conformable displays, image and fingerprint sensors, radio-frequency identification (RFID), near-field communication (NFC), and other printed electronic devices.