22nd Century Group, Inc (NASDAQ:XXII) Short Interest Update

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 59,044 shares, a decline of 40.8% from the May 14th total of 99,729 shares. Based on an average daily trading volume, of 337,435 shares, the short-interest ratio is presently 0.2 days. Approximately 1.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

22nd Century Group Price Performance

Shares of NASDAQ XXII opened at $6.14 on Tuesday. 22nd Century Group has a twelve month low of $5.41 and a twelve month high of $4,485.00. The stock’s 50 day moving average price is $23.96 and its 200-day moving average price is $129.85. The company has a market capitalization of $1.35 million, a PE ratio of -0.03 and a beta of 0.63. The company has a quick ratio of 2.12, a current ratio of 2.67 and a debt-to-equity ratio of 0.02.

22nd Century Group (NASDAQ:XXII) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($101.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($24.00) by ($77.40). 22nd Century Group had a negative return on equity of 84.37% and a negative net margin of 25.34%.The business had revenue of $4.11 million during the quarter, compared to analysts’ expectations of $4.61 million.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its position in 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 763,212 shares of the biotechnology company’s stock after purchasing an additional 665,000 shares during the period. Anson Funds Management LP owned about 149.65% of 22nd Century Group worth $588,000 as of its most recent SEC filing. Institutional investors 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.