22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Up 446.3% in September

22nd Century Group, Inc. (NASDAQ:XXII) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,110,000 shares, an increase of 446.3% from the August 31st total of 203,200 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 3,620,000 shares, the short-interest ratio is presently 0.3 days.

22nd Century Group Stock Performance

Shares of NASDAQ XXII opened at $0.28 on Wednesday. The stock has a 50 day simple moving average of $0.52 and a 200-day simple moving average of $4.57. The company has a market cap of $5.97 million, a PE ratio of 0.00 and a beta of 1.41. 22nd Century Group has a 12-month low of $0.24 and a 12-month high of $17.06.

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

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP lifted its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on 22nd Century Group in a research note on Friday, September 20th. They issued a “sell” rating for the company.

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.