22nd Century Group, Inc (NASDAQ:XXII) Short Interest Update

22nd Century Group, Inc (NASDAQ:XXII) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 43,168 shares, an increase of 362.6% from the August 15th total of 9,331 shares. Based on an average daily volume of 27,972 shares, the days-to-cover ratio is presently 1.5 days. Currently, 8.4% of the company’s stock are short sold.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC acquired a new position in 22nd Century Group, Inc (NASDAQ:XXII) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned 9.12% of 22nd Century Group as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Stock Performance

Shares of XXII opened at $1.99 on Friday. The stock has a 50 day moving average of $3.75 and a 200 day moving average of $24.62. The company has a market capitalization of $1.03 million, a price-to-earnings ratio of -0.00 and a beta of 0.60. 22nd Century Group has a 12 month low of $1.93 and a 12 month high of $646.50. The company has a current ratio of 2.61, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings data on Thursday, August 13th. The biotechnology company reported ($15.60) earnings per share for the quarter, missing the consensus estimate of ($6.00) by ($9.60). The business had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $7.48 million. 22nd Century Group had a negative return on equity of 69.37% and a negative net margin of 27.04%.

Analyst Ratings Changes

XXII has been the topic of several research reports. Wall Street Zen upgraded shares of 22nd Century Group to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings upgraded shares of 22nd Century Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

22nd Century Group Company Profile

22nd Century Group, Inc, founded in 1998 and headquartered in New York, is a plant biotechnology company that applies proprietary breeding and gene modulation technologies to tobacco, hemp and related plant species. The company’s core mission is to develop and commercialize plant-based solutions that address public health, consumer wellness and agronomic needs. Its flagship reduced nicotine tobacco platform is engineered to deliver significantly lower levels of nicotine than conventional tobacco products while retaining the sensory characteristics sought by adult smokers.

Through its branded reduced nicotine tobacco products, marketed under the NEXT Generation™ portfolio, and its GenCanna® subsidiary focused on hemp cultivation and cannabinoid extraction, 22nd Century serves both commercial markets and contract research clients.