22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Up 195.8% in October

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 651,300 shares, a growth of 195.8% from the September 30th total of 220,200 shares. Based on an average trading volume of 6,180,000 shares, the short-interest ratio is currently 0.1 days. Approximately 1.8% of the company’s shares are short sold.

22nd Century Group Stock Up 5.1 %

Shares of NASDAQ XXII opened at $0.11 on Monday. 22nd Century Group has a 52-week low of $0.09 and a 52-week high of $8.63. The firm has a fifty day moving average of $0.27 and a 200-day moving average of $0.77. The stock has a market capitalization of $932,850.00, a PE ratio of 0.00 and a beta of 1.39.

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

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

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

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.