Short Interest in 22nd Century Group, Inc (NASDAQ:XXII) Rises By 18.8%

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 71,897 shares, a growth of 18.8% from the February 26th total of 60,498 shares. Currently, 14.1% of the company’s shares are sold short. Based on an average daily volume of 43,390 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

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

22nd Century Group Price Performance

XXII opened at $2.21 on Wednesday. 22nd Century Group has a 52-week low of $1.95 and a 52-week high of $841.80. The company has a 50 day moving average of $5.43 and a two-hundred day moving average of $13.77. The company has a market cap of $1.46 million, a P/E ratio of 0.00 and a beta of 1.03. The company has a quick ratio of 1.83, a current ratio of 2.42 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in 22nd Century Group stock. Geode Capital Management LLC bought a new position in 22nd Century Group, Inc (NASDAQ:XXII) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned 9.12% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is currently owned by institutional investors.

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.