22nd Century Group, Inc. (NASDAQ:XXII) Sees Large Increase in Short Interest

22nd Century Group, Inc. (NASDAQ:XXII) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 307,300 shares, an increase of 40.8% from the May 31st total of 218,300 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 1,660,000 shares, the short-interest ratio is presently 0.2 days.

22nd Century Group Stock Performance

XXII stock opened at $0.75 on Friday. The stock’s 50 day moving average is $1.19 and its 200-day moving average is $23.85. 22nd Century Group has a twelve month low of $0.58 and a twelve month high of $110.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.43 and a current ratio of 0.54.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Thursday, March 28th. The biotechnology company reported ($10.56) earnings per share for the quarter. 22nd Century Group had a negative net margin of 233.06% and a negative return on equity of 380.39%. The company had revenue of $7.36 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP increased its holdings 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 institutional investor owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned about 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.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of 22nd Century Group to a “sell” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.00.

22nd Century Group Company Profile

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.