A Reversal for Smartfinancial Inc (NASDAQ:SMBK) Is Not Near. The Stock Has Rise in Shorts

SmartFinancial, Inc. (NASDAQ:SMBK) Logo

The stock of Smartfinancial Inc (NASDAQ:SMBK) registered an increase of 6.45% in short interest. SMBK’s total short interest was 249,200 shares in August as published by FINRA. Its up 6.45% from 234,100 shares, reported previously. With 34,500 shares average volume, it will take short sellers 7 days to cover their SMBK’s short positions.

The stock decreased 1.17% or $0.24 during the last trading session, reaching $20.3. About 42,171 shares traded or 33.14% up from the average. SmartFinancial, Inc. (NASDAQ:SMBK) has declined 15.31% since August 8, 2018 and is downtrending. It has underperformed by 15.31% the S&P500.

SmartFinancial, Inc. operates as the bank holding firm for the SmartBank that provides various banking services to individuals and corporate clients in the United States. The company has market cap of $283.22 million. The firm offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit. It has a 11.19 P/E ratio. It also provides loan products, such as commercial real estate loans, consumer real estate loans, construction and land development loans, commercial and industrial loans, and consumer and other loans, such as direct consumer installment loans, overdrafts and other revolving credit loans, and educational loans.

More notable recent SmartFinancial, Inc. (NASDAQ:SMBK) news were published by: Finance.Yahoo.com which released: “Have Insiders Been Buying SmartFinancial, Inc. (NASDAQ:SMBK) Shares This Year? – Yahoo Finance” on July 11, 2019, also Seekingalpha.com with their article: “Stocks To Watch: Calling Up Animal Spirits – Seeking Alpha” published on September 22, 2018, Benzinga.com published: “Benzinga’s Top Upgrades, Downgrades For July 29, 2019 – Benzinga” on July 29, 2019. More interesting news about SmartFinancial, Inc. (NASDAQ:SMBK) were released by: Globenewswire.com and their article: “SmartFinancial, Inc. and Capstone Bancshares, Inc. Shareholders Approve Merger-Related Proposals – GlobeNewswire” published on September 19, 2017 as well as Globenewswire.com‘s news article titled: “SmartFinancial, Inc. Completes Acquisition of Foothills Bancorp, Inc. – GlobeNewswire” with publication date: November 01, 2018.

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