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

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 286,600 shares, an increase of 17.5% from the November 15th total of 243,900 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 9,340,000 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP acquired a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 6.77% of 22nd Century Group at the end of the most recent quarter. 18.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on 22nd Century Group in a research report on Friday. They issued a “sell” rating for the company.

22nd Century Group Stock Down 33.2 %

22nd Century Group stock opened at $0.05 on Monday. The company has a market capitalization of $2.28 million, a P/E ratio of 0.00 and a beta of 1.50. 22nd Century Group has a 1-year low of $0.04 and a 1-year high of $4.31. The firm’s fifty day simple moving average is $0.11 and its 200-day simple moving average is $0.41. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59.

22nd Century Group’s stock is set to reverse split on the morning of Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 16th.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) 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 144.09%. 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.