Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Decreases By 38.0%

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large 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 volume of 436,500 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on 22nd Century Group in a report on Sunday, September 8th. They issued a “sell” rating for the company.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent filing with the Securities and 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 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities and Exchange Commission. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

22nd Century Group Price Performance

Shares of XXII stock opened at $0.34 on Friday. The company has a fifty day moving average price of $0.59 and a two-hundred day moving average price of $6.87. 22nd Century Group has a one year low of $0.26 and a one year high of $22.40. The stock has a market cap of $3.17 million, a P/E ratio of 0.00 and a beta of 1.41.

22nd Century Group (NASDAQ:XXII) last issued its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%. The firm had revenue of $7.95 million during the quarter.

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.