Short Interest in Smartkem, Inc. (NASDAQ:SMTK) Decreases By 54.7%

Smartkem, Inc. (NASDAQ:SMTK) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 49,500 shares, a drop of 54.7% from the November 30th total of 109,300 shares. Based on an average daily volume of 215,300 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.9% of the shares of the stock are short sold.

Smartkem Stock Performance

Shares of SMTK traded down $0.18 during midday trading on Friday, reaching $2.82. The stock had a trading volume of 36,628 shares, compared to its average volume of 68,056. The firm has a 50 day moving average of $3.41. Smartkem has a 52 week low of $2.01 and a 52 week high of $19.00.

Hedge Funds Weigh In On Smartkem

An institutional investor recently bought a new position in Smartkem stock. AIGH Capital Management LLC acquired a new position in shares of Smartkem, Inc. (NASDAQ:SMTK) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 134,687 shares of the company’s stock, valued at approximately $772,000. AIGH Capital Management LLC owned approximately 9.35% of Smartkem as of its most recent SEC filing.

Smartkem Company Profile

SmartKem, Inc, together with its subsidiaries, develops materials and processes used to make organic thin-film (OTFT) transistors for the manufacture of flexible electronics. The company offers TRUFLEX semiconductor and dielectric inks, which uses low temperature printing processes to make transistors for the display industry.