Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Declines By 88.1%

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 243,900 shares, a decline of 88.1% from the October 31st total of 2,050,000 shares. Based on an average daily volume of 8,720,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of 22nd Century Group in a research report on Monday. They issued a “sell” rating on the stock.

22nd Century Group Stock Performance

NASDAQ:XXII opened at $0.10 on Thursday. The stock has a 50 day simple moving average of $0.15 and a 200 day simple moving average of $0.53. The stock has a market cap of $4.80 million, a P/E ratio of 0.00 and a beta of 1.45. 22nd Century Group has a 1-year low of $0.08 and a 1-year high of $5.28. 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 (NASDAQ:XXII) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The firm had revenue of $5.95 million for the quarter.

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 stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group at the end of the most recent quarter. Hedge funds and other institutional investors own 18.06% of the company’s stock.

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.