Short Interest in Smartkem, Inc. (NASDAQ:SMTK) Drops By 25.1%

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 16,700 shares, a decrease of 25.1% from the January 31st total of 22,300 shares. Based on an average trading volume of 233,100 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Smartkem

Several hedge funds have recently added to or reduced their stakes in SMTK. AIGH Capital Management LLC lifted its position in 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 acquiring an additional 21,800 shares during the last quarter. Bleichroeder LP acquired a new position in shares of Smartkem in the fourth quarter valued at approximately $483,000. Finally, MYDA Advisors LLC bought a new position in shares of Smartkem during the fourth quarter worth approximately $967,000.

Smartkem Trading Up 19.9 %

Smartkem stock opened at $2.59 on Tuesday. Smartkem has a 52 week low of $2.01 and a 52 week high of $19.00. The stock has a 50-day simple moving average of $3.03 and a 200 day simple moving average of $3.69.

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.