22nd Century Group, Inc. (NASDAQ:XXII) Sees Significant Increase in Short Interest

22nd Century Group, Inc. (NASDAQ:XXII) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 307,300 shares, an increase of 40.8% from the May 31st total of 218,300 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average trading volume of 1,660,000 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of 22nd Century Group to a “sell” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.00.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after buying 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 filing with the Securities and Exchange Commission (SEC). 18.06% of the stock is owned by institutional investors and hedge funds.

22nd Century Group Stock Down 5.0 %

22nd Century Group stock opened at $0.75 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 0.01. 22nd Century Group has a 52 week low of $0.58 and a 52 week high of $110.24. The business’s 50-day moving average price is $1.19 and its 200 day moving average price is $23.65. The firm has a market cap of $6.18 million, a price-to-earnings ratio of -0.01 and a beta of 1.42.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Thursday, March 28th. The biotechnology company reported ($10.56) earnings per share (EPS) for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 233.06%. The firm had revenue of $7.36 million for the quarter.

About 22nd Century Group

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.