22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Update

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 2,050,000 shares, a growth of 214.8% from the October 15th total of 651,300 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average daily volume of 7,290,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the period. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities and Exchange Commission. 18.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of 22nd Century Group in a research note on Thursday, November 7th. They issued a “sell” rating on the stock.

22nd Century Group Stock Performance

XXII traded down $0.01 during midday trading on Tuesday, reaching $0.10. 1,268,346 shares of the company were exchanged, compared to its average volume of 2,711,205. The company has a market cap of $4.44 million, a price-to-earnings ratio of 0.00 and a beta of 1.45. 22nd Century Group has a one year low of $0.09 and a one year high of $6.56. The company’s fifty day moving average price is $0.19 and its 200 day moving average price is $0.65.

22nd Century Group (NASDAQ:XXII) last released its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%. The business had revenue of $7.95 million during the quarter.

22nd Century Group Company Profile

22nd Century Group, Inc, a tobacco products company, engages in the sale and distribution of its own proprietary new reduced nicotine tobacco products. The company offers reduced nicotine content tobacco plants and very low nicotine combustible cigarette products. It also provides contract manufacturing services for conventional combustible tobacco products for third-party brands.