SmartKem (NASDAQ:SMTK) Announces Quarterly Earnings Results

SmartKem (NASDAQ:SMTK) released its quarterly earnings data on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, Zacks reports. SmartKem had a negative return on equity of 610.88% and a negative net margin of 6,262.36%.

SmartKem Stock Performance

Shares of NASDAQ:SMTK opened at $0.33 on Thursday. SmartKem has a twelve month low of $0.21 and a twelve month high of $3.80. The firm has a market cap of $3.25 million, a PE ratio of -0.15 and a beta of 4.99. The business has a fifty day moving average of $0.31 and a 200-day moving average of $1.16.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartKem in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On SmartKem

Several hedge funds have recently added to or reduced their stakes in SMTK. Walleye Capital LLC boosted its holdings in SmartKem by 147.0% in the second quarter. Walleye Capital LLC now owns 240,082 shares of the company’s stock valued at $238,000 after acquiring an additional 142,898 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in SmartKem by 120.8% in the second quarter. Corient Private Wealth LLC now owns 42,496 shares of the company’s stock valued at $43,000 after acquiring an additional 23,248 shares during the last quarter. Finally, Rossby Financial LCC boosted its holdings in SmartKem by 110.2% in the fourth quarter. Rossby Financial LCC now owns 227,000 shares of the company’s stock valued at $242,000 after acquiring an additional 119,000 shares during the last quarter.

SmartKem Company Profile

SmartKem plc (NASDAQ: SMTK) is a fabless semiconductor company specializing in the development and commercialization of organic semiconductor materials for thin‐film transistors (TFTs). Headquartered in the United Kingdom, the company has pioneered low‐temperature processable organic materials designed to deliver high performance, energy efficiency and manufacturing flexibility. SmartKem’s solutions target a range of display applications, including flexible, foldable and transparent screens, as well as emerging sensor and Internet of Things (IoT) platforms.

The company’s core product line consists of proprietary organic inks and formulations that can be integrated into existing TFT backplane production lines without the need for costly equipment upgrades.