22nd Century Group, Inc. (NASDAQ:XXII – Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 203,200 shares, a decline of 38.0% from the August 15th total of 327,700 shares. Based on an average daily trading volume, of 436,500 shares, the short-interest ratio is presently 0.5 days. Currently, 2.5% of the company’s shares are sold short.
Hedge Funds Weigh In On 22nd Century Group
A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on shares of 22nd Century Group in a research note on Sunday, September 8th. They issued a “sell” rating on the stock.
22nd Century Group Trading Up 27.1 %
NASDAQ XXII opened at $0.34 on Friday. 22nd Century Group has a 12 month low of $0.26 and a 12 month high of $22.40. The stock has a 50-day simple moving average of $0.59 and a 200 day simple moving average of $6.87. The company has a market capitalization of $3.17 million, a PE ratio of 0.00 and a beta of 1.41.
22nd Century Group (NASDAQ:XXII – Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The firm had revenue of $7.95 million during the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%.
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.
Featured Stories
- Five stocks we like better than 22nd Century Group
- How to Buy Cheap Stocks Step by Step
- Powering Your Portfolio: The Utility Sector’s Electrifying Surge
- How Technical Indicators Can Help You Find Oversold StocksĀ
- Adobe Stock Builds Long-Term Value: Consider Buying on the Dip
- What is the FTSE 100 index?
- Albemarle Jumps as Lithium Stock Buying Frenzy Takes Off
Receive News & Ratings for 22nd Century Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 22nd Century Group and related companies with MarketBeat.com's FREE daily email newsletter.