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

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 286,600 shares, an increase of 17.5% from the November 15th total of 243,900 shares. Based on an average daily volume of 9,340,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on 22nd Century Group in a report on Friday. They set a “sell” rating on the stock.

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 purchased a new position in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 6.77% of 22nd Century Group at the end of the most recent quarter. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Stock Performance

Shares of 22nd Century Group stock opened at $0.05 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The stock has a market capitalization of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The business has a 50-day moving average of $0.11 and a 200 day moving average of $0.41. 22nd Century Group has a 12 month low of $0.04 and a 12 month high of $4.31.

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

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.