22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Up 446.3% in September

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,110,000 shares, a growth of 446.3% from the August 31st total of 203,200 shares. Based on an average trading volume of 3,620,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 6.0% of the company’s shares are short sold.

22nd Century Group Stock Performance

Shares of NASDAQ XXII opened at $0.28 on Wednesday. 22nd Century Group has a 1 year low of $0.24 and a 1 year high of $17.06. The firm has a market cap of $5.97 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. The stock’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $4.57.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The firm had revenue of $7.95 million during the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.06% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on 22nd Century Group in a research note on Friday, September 20th. They set a “sell” rating on the stock.

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.