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

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 203,200 shares, a decline of 38.0% from the August 15th total of 327,700 shares. Based on an average daily volume of 436,500 shares, the short-interest ratio is currently 0.5 days. Currently, 2.5% of the company’s stock are short sold.

Institutional Investors 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 106.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. 18.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on 22nd Century Group in a research report on Saturday. They set a “sell” rating on the stock.

22nd Century Group Stock Performance

NASDAQ:XXII opened at $0.34 on Monday. The firm has a 50-day simple moving average of $0.59 and a 200-day simple moving average of $6.46. 22nd Century Group has a one year low of $0.26 and a one year high of $22.40. The firm has a market cap of $3.17 million, a P/E ratio of 0.00 and a beta of 1.41.

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

About 22nd Century Group

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.