Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Rises By 17.5%

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 286,600 shares, a growth of 17.5% from the November 15th total of 243,900 shares. Based on an average daily trading volume, of 9,340,000 shares, the short-interest ratio is currently 0.0 days. Currently, 0.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group as of its most recent SEC filing. Institutional investors and hedge funds own 18.06% of the company’s stock.

22nd Century Group Trading Down 33.2 %

NASDAQ:XXII opened at $0.05 on Friday. 22nd Century Group has a 12-month low of $0.04 and a 12-month high of $4.31. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. The stock’s 50 day simple moving average is $0.11 and its 200-day simple moving average is $0.42. The firm has a market cap of $2.28 million, a P/E ratio of 0.00 and a beta of 1.50.

22nd Century Group shares are going to reverse split before the market opens on Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 16th.

22nd Century Group (NASDAQ:XXII) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) EPS for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The company had revenue of $5.95 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com started coverage on 22nd Century Group in a report on Friday. They issued 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.