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

22nd Century Group, Inc (NASDAQ:XXII) saw a large drop in short interest in December. As of December 15th, there was short interest totaling 168,162 shares, a drop of 34.0% from the November 30th total of 254,700 shares. Based on an average daily volume of 187,666 shares, the short-interest ratio is presently 0.9 days. Currently, 2.4% of the shares of the stock are short sold. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily volume of 187,666 shares, the short-interest ratio is presently 0.9 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on XXII. Weiss Ratings reiterated a “sell (e)” rating on shares of 22nd Century Group in a research report on Monday, December 15th. Wall Street Zen raised shares of 22nd Century Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its stake in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 197.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Price Performance

Shares of NASDAQ XXII opened at $0.83 on Tuesday. The company has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $2.73. 22nd Century Group has a 1 year low of $0.78 and a 1 year high of $287.27. The firm has a market cap of $5.79 million, a PE ratio of -0.01 and a beta of 1.11.

22nd Century Group (NASDAQ:XXII) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates 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%.

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.