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

22nd Century Group, Inc (NASDAQ:XXII) was the target of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 28,931 shares, a decrease of 90.4% from the January 15th total of 301,447 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average trading volume of 28,915 shares, the short-interest ratio is presently 1.0 days. Based on an average trading volume of 28,915 shares, the short-interest ratio is presently 1.0 days. Approximately 5.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of analysts have commented on XXII shares. Wall Street Zen upgraded 22nd Century Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 22nd Century Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, 22nd Century Group presently has an average rating of “Sell”.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its position in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 197.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 98,212 shares of the biotechnology company’s stock after acquiring 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 filing with the SEC. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

22nd Century Group Stock Up 3.2%

Shares of XXII traded up $0.17 during trading hours on Tuesday, reaching $5.53. 23,463 shares of the company traded hands, compared to its average volume of 28,152. The stock has a market capitalization of $2.82 million, a PE ratio of -0.01 and a beta of 1.07. The stock has a fifty day simple moving average of $12.18 and a 200 day simple moving average of $20.76. 22nd Century Group has a fifty-two week low of $5.18 and a fifty-two week high of $1,204.05.

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.