Short Interest in 22nd Century Group, Inc (NASDAQ:XXII) Grows By 83.5%

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 104,600 shares, a growth of 83.5% from the August 15th total of 57,000 shares. Based on an average daily trading volume, of 939,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.5% of the company’s stock are short sold. Approximately 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 939,000 shares, the days-to-cover ratio is currently 0.1 days.

22nd Century Group Stock Performance

NASDAQ XXII opened at $1.72 on Tuesday. The firm has a 50-day moving average of $2.84 and a 200-day moving average of $16.46. The stock has a market cap of $6.51 million, a PE ratio of 0.00 and a beta of 1.81. 22nd Century Group has a 52-week low of $1.59 and a 52-week high of $1,086.75.

22nd Century Group (NASDAQ:XXII) last posted its earnings results on Thursday, August 14th. The biotechnology company reported ($13.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($12.89). The company had revenue of $4.08 million for the quarter, compared to analyst estimates of $5.44 million. 22nd Century Group had a negative return on equity of 344.13% and a negative net margin of 80.22%.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP lifted its stake in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 255.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 176,094 shares of the biotechnology company’s stock after buying an additional 126,536 shares during the quarter. Anson Funds Management LP owned about 7.43% of 22nd Century Group worth $254,000 as of its most recent SEC filing. 18.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on XXII. Wall Street Zen cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Weiss Ratings reissued a “sell (e)” rating on shares of 22nd Century Group in a research report on Saturday.

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.