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

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,050,000 shares, an increase of 214.8% from the October 15th total of 651,300 shares. Based on an average trading volume of 7,290,000 shares, the short-interest ratio is presently 0.3 days. Approximately 5.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on 22nd Century Group in a report on Thursday, November 7th. They set a “sell” rating for the company.

22nd Century Group Trading Down 7.0 %

Shares of NASDAQ:XXII traded down $0.01 during trading on Tuesday, reaching $0.10. The company had a trading volume of 1,268,346 shares, compared to its average volume of 2,711,205. The company has a fifty day moving average of $0.19 and a two-hundred day moving average of $0.65. The stock has a market capitalization of $4.44 million, a P/E ratio of 0.00 and a beta of 1.45. 22nd Century Group has a 12 month low of $0.09 and a 12 month high of $6.56.

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

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP raised its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned about 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 and hedge funds.

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.