22nd Century Group, Inc (NASDAQ:XXII) Sees Large Decline in Short Interest

22nd Century Group, Inc (NASDAQ:XXII) saw a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 28,931 shares, a decrease of 90.4% from the January 15th total of 301,447 shares. Based on an average daily volume of 28,915 shares, the days-to-cover ratio is presently 1.0 days. Currently, 5.7% of the company’s shares are sold short. Currently, 5.7% of the company’s shares are sold short. Based on an average daily volume of 28,915 shares, the days-to-cover ratio is presently 1.0 days.

22nd Century Group Stock Performance

Shares of NASDAQ:XXII traded up $0.17 during trading on Tuesday, reaching $5.53. 23,463 shares of the stock were exchanged, compared to its average volume of 28,152. The firm’s 50-day moving average price is $12.18 and its 200 day moving average price is $20.76. The firm has a market cap of $2.82 million, a price-to-earnings ratio of -0.01 and a beta of 1.07. 22nd Century Group has a 12-month low of $5.18 and a 12-month high of $1,204.05.

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 197.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,212 shares of the biotechnology company’s stock after acquiring an additional 65,174 shares during the quarter. Anson Funds Management LP owned about 1.41% of 22nd Century Group worth $166,000 as of its most recent filing with the Securities and Exchange Commission. 18.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XXII has been the subject of a number of recent analyst reports. Wall Street Zen raised 22nd Century Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About 22nd Century Group

22nd Century Group, Inc, founded in 1998 and headquartered in New York, is a plant biotechnology company that applies proprietary breeding and gene modulation technologies to tobacco, hemp and related plant species. The company’s core mission is to develop and commercialize plant-based solutions that address public health, consumer wellness and agronomic needs. Its flagship reduced nicotine tobacco platform is engineered to deliver significantly lower levels of nicotine than conventional tobacco products while retaining the sensory characteristics sought by adult smokers.

Through its branded reduced nicotine tobacco products, marketed under the NEXT Generation™ portfolio, and its GenCanna® subsidiary focused on hemp cultivation and cannabinoid extraction, 22nd Century serves both commercial markets and contract research clients.