22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Down 88.1% in November

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 243,900 shares, a decline of 88.1% from the October 31st total of 2,050,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 8,720,000 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP acquired a new position in 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on 22nd Century Group in a report on Monday. They issued a “sell” rating on the stock.

22nd Century Group Trading Down 6.7 %

Shares of XXII traded down $0.01 during mid-day trading on Wednesday, reaching $0.10. 1,801,689 shares of the company’s stock traded hands, compared to its average volume of 2,999,745. 22nd Century Group has a 12 month low of $0.08 and a 12 month high of $5.28. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The stock has a market cap of $4.69 million, a P/E ratio of 0.00 and a beta of 1.45. The stock’s 50-day moving average is $0.15 and its two-hundred day moving average is $0.53.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter. 22nd Century Group had a negative net margin of 144.09% and a negative return on equity of 380.39%. The firm had revenue of $5.95 million during the quarter.

About 22nd Century Group

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.