Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Decreases By 98.4%

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 4,500 shares, a decrease of 98.4% from the November 30th total of 286,600 shares. Based on an average daily volume of 70,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on 22nd Century Group in a research report on Wednesday. They set a “hold” rating on the stock.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to its most recent filing with the SEC. The firm purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is owned by institutional investors and hedge funds.

22nd Century Group Stock Down 5.1 %

Shares of XXII opened at $4.99 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09. 22nd Century Group has a 52 week low of $3.90 and a 52 week high of $581.85. The firm has a market capitalization of $1.71 million, a price-to-earnings ratio of -0.23 and a beta of 1.50. The business’s fifty day moving average price is $11.79 and its two-hundred day moving average price is $49.17.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) earnings per share for the quarter. 22nd Century Group had a negative net margin of 144.09% and a negative return on equity of 380.39%. The company had revenue of $5.95 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.