22nd Century Group, Inc (NASDAQ:XXII) Short Interest Down 90.4% in January

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 28,931 shares, a decline of 90.4% from the January 15th total of 301,447 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 28,915 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 28,915 shares, the short-interest ratio is currently 1.0 days. Currently, 5.7% of the shares of the stock are sold short.

22nd Century Group Stock Up 3.2%

Shares of NASDAQ:XXII opened at $5.53 on Wednesday. The company has a market capitalization of $2.82 million, a P/E ratio of -0.01 and a beta of 1.07. 22nd Century Group has a 52-week low of $5.18 and a 52-week high of $1,204.05. The stock’s fifty day simple moving average is $12.18 and its 200-day simple moving average is $20.76.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Geode Capital Management LLC acquired a new position in shares of 22nd Century Group, Inc (NASDAQ:XXII) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned about 9.12% of 22nd Century Group as of its most recent SEC filing. 18.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of 22nd Century Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 22nd Century Group in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About 22nd Century Group

22nd Century Group, Inc, founded in 1998 and headquartered in New York, is a plant biotechnology company that applies proprietary breeding and gene modulation technologies to tobacco, hemp and related plant species. The company’s core mission is to develop and commercialize plant-based solutions that address public health, consumer wellness and agronomic needs. Its flagship reduced nicotine tobacco platform is engineered to deliver significantly lower levels of nicotine than conventional tobacco products while retaining the sensory characteristics sought by adult smokers.

Through its branded reduced nicotine tobacco products, marketed under the NEXT Generation™ portfolio, and its GenCanna® subsidiary focused on hemp cultivation and cannabinoid extraction, 22nd Century serves both commercial markets and contract research clients.