Could Smartfinancial Inc (NASDAQ:SMBK) Change Direction After More 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 September 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 increased 2.20% or $0.44 during the last trading session, reaching $20.47. About 25,916 shares traded. SmartFinancial, Inc. (NASDAQ:SMBK) has declined 15.31% since September 11, 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 $285.62 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 11.28 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: “Is Chaparral Energy, Inc. (CHAP) A Good Stock To Buy? – Yahoo Finance” on June 25, 2019, also Globenewswire.com with their article: “SmartFinancial, Inc. Completes Acquisition of Foothills Bancorp, Inc. – GlobeNewswire” published on November 01, 2018, Globenewswire.com published: “SmartFinancial, Inc. to Acquire Foothills Bancorp, Inc. Nasdaq:SMBK – GlobeNewswire” on June 27, 2018. More interesting news about SmartFinancial, Inc. (NASDAQ:SMBK) were released by: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For July 11, 2019 – Benzinga” published on July 11, 2019 as well as Seekingalpha.com‘s news article titled: “SmartFinancial, Inc. 2019 Q1 – Results – Earnings Call Slides – Seeking Alpha” with publication date: April 25, 2019.

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