Short Interest in 22nd Century Group, Inc (NASDAQ:XXII) Decreases By 40.8%

22nd Century Group, Inc (NASDAQ:XXII) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 59,044 shares, a drop of 40.8% from the May 14th total of 99,729 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 337,435 shares, the short-interest ratio is currently 0.2 days.

22nd Century Group Price Performance

Shares of 22nd Century Group stock traded down $0.13 during midday trading on Monday, reaching $6.42. The company had a trading volume of 26,125 shares, compared to its average volume of 41,602. The company has a current ratio of 2.67, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.41 million, a price-to-earnings ratio of -0.03 and a beta of 0.63. The stock has a fifty day simple moving average of $23.08 and a 200 day simple moving average of $128.09. 22nd Century Group has a 1-year low of $5.41 and a 1-year high of $4,485.00.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($101.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($24.00) by ($77.40). The company had revenue of $4.11 million during the quarter, compared to analyst estimates of $4.61 million. 22nd Century Group had a negative net margin of 25.34% and a negative return on equity of 84.37%.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP lifted its stake in 22nd Century Group, Inc (NASDAQ:XXII) by 197.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,212 shares of the biotechnology company’s stock after purchasing an additional 65,174 shares during the period. Anson Funds Management LP owned 1.41% of 22nd Century Group worth $166,000 at the end of the most recent quarter. 18.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.