Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Rises By 1,933.3%

22nd Century Group, Inc. (NASDAQ:XXII) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 91,500 shares, an increase of 1,933.3% from the December 31st total of 4,500 shares. Based on an average trading volume of 109,400 shares, the days-to-cover ratio is presently 0.8 days. Currently, 19.5% of the shares of the stock are sold short.

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 bought a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 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 as of its most recent filing with the SEC. 18.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XXII has been the subject of several analyst reports. StockNews.com downgraded shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research report on Saturday, January 18th.

22nd Century Group Stock Down 6.3 %

22nd Century Group stock opened at $4.63 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. The stock has a fifty day moving average price of $7.92 and a 200 day moving average price of $34.13. 22nd Century Group has a 52 week low of $3.90 and a 52 week high of $581.85.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) earnings per share for the quarter. The business had revenue of $5.95 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.