Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Rises By 40.7%

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 223,500 shares, a growth of 40.7% from the February 13th total of 158,900 shares. Based on an average daily volume of 886,300 shares, the days-to-cover ratio is presently 0.3 days. Currently, 18.5% of the shares of the stock are short sold.

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 bought a new position in 22nd Century Group, Inc. (NASDAQ:XXII) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 as of its most recent filing with the Securities & Exchange Commission. 18.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on XXII shares. StockNews.com cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Weiss Ratings restated a “sell (e)” rating on shares of 22nd Century Group in a research report on Friday, March 7th.

22nd Century Group Stock Down 11.3 %

Shares of NASDAQ XXII opened at $1.72 on Friday. 22nd Century Group has a 1 year low of $1.68 and a 1 year high of $581.85. The firm’s 50-day moving average is $3.87 and its 200-day moving average is $14.21. 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 firm has a market capitalization of $2.95 million, a PE ratio of 0.00 and a beta of 1.67.

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.