Short Interest in 22nd Century Group, Inc (NASDAQ:XXII) Grows By 20.5%

22nd Century Group, Inc (NASDAQ:XXII) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 60,498 shares, an increase of 20.5% from the February 12th total of 50,192 shares. Approximately 11.9% of the shares of the company are short sold. Based on an average daily volume of 30,589 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 30,589 shares, the short-interest ratio is presently 2.0 days. Approximately 11.9% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 22nd Century Group in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

22nd Century Group Price Performance

XXII opened at $3.65 on Wednesday. The business has a fifty day moving average price of $7.40 and a 200 day moving average price of $15.37. 22nd Century Group has a 12 month low of $3.56 and a 12 month high of $841.80. The stock has a market capitalization of $1.86 million, a price-to-earnings ratio of 0.00 and a beta of 1.03.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC bought a new position in shares of 22nd Century Group, Inc (NASDAQ:XXII) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned approximately 9.12% of 22nd Century Group as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 18.06% of the company’s stock.

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.