Smartkem (NASDAQ:SMTK) Trading Down 3.2% – What’s Next?

Smartkem, Inc. (NASDAQ:SMTK)’s share price fell 3.2% on Tuesday . The stock traded as low as $2.98 and last traded at $3.00. 53,229 shares were traded during mid-day trading, a decline of 29% from the average session volume of 74,879 shares. The stock had previously closed at $3.10.

Smartkem Price Performance

The business has a 50-day moving average price of $2.84 and a two-hundred day moving average price of $3.38.

Hedge Funds Weigh In On Smartkem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC grew its position in shares of Smartkem by 16.2% in the fourth 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. MYDA Advisors LLC purchased a new position in Smartkem during the fourth quarter worth $967,000. Finally, Bleichroeder LP acquired a new position in shares of Smartkem in the fourth quarter worth $483,000.

About Smartkem

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.