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

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

Smartkem Trading Down 3.2 %

The stock’s 50-day moving average is $2.87 and its 200-day moving average is $3.38.

Institutional Investors Weigh In On Smartkem

Several institutional investors have recently bought and sold shares of SMTK. MYDA Advisors LLC acquired a new position in shares of Smartkem during the 4th quarter valued at $967,000. Bleichroeder LP acquired a new stake in Smartkem in the 4th quarter valued at $483,000. Finally, AIGH Capital Management LLC raised its position in 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 period.

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.