22nd Century Group, Inc (NASDAQ:XXII) Sees Large Growth in Short Interest

22nd Century Group, Inc (NASDAQ:XXII) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 60,498 shares, an increase of 20.5% from the February 12th total of 50,192 shares. Based on an average daily trading volume, of 30,589 shares, the short-interest ratio is presently 2.0 days. Approximately 11.9% of the shares of the company are short sold. Approximately 11.9% of the shares of the company are short sold. Based on an average daily trading volume, of 30,589 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP lifted its holdings in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 763,212 shares of the biotechnology company’s stock after buying an additional 665,000 shares during the period. Anson Funds Management LP owned approximately 149.65% of 22nd Century Group worth $588,000 at the end of the most recent reporting period. 18.06% of the stock is currently owned by institutional investors and hedge funds.

22nd Century Group Stock Performance

Shares of XXII opened at $3.88 on Monday. The firm has a fifty day moving average of $7.82 and a 200-day moving average of $15.69. The company has a market cap of $1.98 million, a price-to-earnings ratio of 0.00 and a beta of 1.03. 22nd Century Group has a 1 year low of $3.61 and a 1 year high of $841.80.

22nd Century Group Company Profile

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.