22nd Century Group, Inc. (NASDAQ:XXII) Sees Large Decline in Short Interest

22nd Century Group, Inc. (NASDAQ:XXII) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 243,900 shares, a decrease of 88.1% from the October 31st total of 2,050,000 shares. Based on an average daily volume of 8,720,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP purchased a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group 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 Price Performance

NASDAQ XXII traded down $0.01 during mid-day trading on Wednesday, hitting $0.10. The stock had a trading volume of 1,801,689 shares, compared to its average volume of 2,999,745. The firm’s 50 day moving average is $0.15 and its 200 day moving average is $0.53. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The stock has a market capitalization of $4.69 million, a price-to-earnings ratio of 0.00 and a beta of 1.45. 22nd Century Group has a twelve month low of $0.08 and a twelve month high of $5.28.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) EPS for the quarter. The business had revenue of $5.95 million during the quarter. 22nd Century Group had a negative net margin of 144.09% and a negative return on equity of 380.39%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of 22nd Century Group in a research note on Monday. They set a “sell” rating for the company.

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.