Smartkem (NASDAQ:SMTK) Trading Down 3.2% – Should You Sell?

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

Smartkem Price Performance

The stock has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.38.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bleichroeder LP purchased a new stake in Smartkem in the fourth quarter valued at approximately $483,000. MYDA Advisors LLC purchased a new stake in shares of Smartkem during the 4th quarter valued at $967,000. Finally, AIGH Capital Management LLC increased its holdings in shares of Smartkem by 16.2% during the 4th quarter. AIGH Capital Management LLC now owns 156,487 shares of the company’s stock worth $456,000 after buying an additional 21,800 shares during the last quarter.

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.