Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Drops By 88.1%

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 243,900 shares, a decrease of 88.1% from the October 31st total of 2,050,000 shares. Based on an average daily trading volume, of 8,720,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the company’s stock are short sold.

22nd Century Group Trading Down 4.5 %

Shares of NASDAQ:XXII opened at $0.10 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. 22nd Century Group has a 1 year low of $0.08 and a 1 year high of $5.28. The company has a market cap of $4.80 million, a P/E ratio of 0.00 and a beta of 1.45. The stock’s fifty day moving average price is $0.14 and its 200-day moving average price is $0.53.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of 22nd Century Group in a report on Monday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP acquired a new position in 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is owned by hedge funds and other institutional investors.

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.