22nd Century Group, Inc (NASDAQ:XXII) Sees Significant Increase in Short Interest

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 257,129 shares, an increase of 52.9% from the December 15th total of 168,162 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average trading volume of 147,874 shares, the days-to-cover ratio is currently 1.7 days. Based on an average trading volume of 147,874 shares, the days-to-cover ratio is currently 1.7 days. Currently, 3.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its holdings in 22nd Century Group, Inc (NASDAQ:XXII) by 197.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 98,212 shares of the biotechnology company’s stock after buying an additional 65,174 shares during the quarter. Anson Funds Management LP owned approximately 1.41% of 22nd Century Group worth $166,000 at the end of the most recent quarter. 18.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

22nd Century Group Stock Performance

Shares of 22nd Century Group stock opened at $0.87 on Friday. 22nd Century Group has a 52-week low of $0.75 and a 52-week high of $179.86. The company’s 50 day moving average price is $0.96 and its 200-day moving average price is $2.02. The stock has a market capitalization of $6.66 million, a price-to-earnings ratio of -0.02 and a beta of 1.00.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($16.79) by $15.73. 22nd Century Group had a negative net margin of 37.64% and a negative return on equity of 184.33%.

22nd Century Group Company Profile

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.