Short Interest in 22nd Century Group, Inc (NASDAQ:XXII) Declines By 63.5%

22nd Century Group, Inc (NASDAQ:XXII) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 244,900 shares, a drop of 63.5% from the September 30th total of 670,300 shares. Currently, 6.6% of the shares of the stock are short sold. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is currently 0.2 days. Currently, 6.6% of the shares of the stock are short sold.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP increased its position in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 255.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 7.47% of 22nd Century Group worth $254,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Stock Down 9.9%

NASDAQ XXII opened at $1.45 on Friday. 22nd Century Group has a 52 week low of $1.43 and a 52 week high of $394.02. The business’s fifty day simple moving average is $1.66 and its 200-day simple moving average is $8.70. The firm has a market cap of $5.48 million, a PE ratio of 0.00 and a beta of 1.95.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

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.