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 the month of February. As of February 27th, there was short interest totaling 60,498 shares, an increase of 20.5% from the February 12th total of 50,192 shares. Approximately 11.9% of the company’s shares are sold short. Based on an average daily volume of 30,589 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 30,589 shares, the days-to-cover ratio is currently 2.0 days. Approximately 11.9% of the company’s shares are sold short.

22nd Century Group Trading Down 4.4%

XXII stock opened at $3.71 on Tuesday. The stock has a market cap of $1.89 million, a PE ratio of 0.00 and a beta of 1.03. 22nd Century Group has a 12 month low of $3.61 and a 12 month high of $841.80. The company has a 50-day moving average price of $7.60 and a 200 day moving average price of $15.53.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, 22nd Century Group presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC bought a new stake in shares of 22nd Century Group, Inc (NASDAQ:XXII) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned about 9.12% of 22nd Century Group as of its most recent filing with the Securities & Exchange Commission. 18.06% of the stock is currently owned by institutional investors.

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.