22nd Century Group, Inc (NASDAQ:XXII) Sees Significant Growth in Short Interest

22nd Century Group, Inc (NASDAQ:XXII) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 71,897 shares, a growth of 18.8% from the February 26th total of 60,498 shares. Approximately 14.1% of the company’s stock are short sold. Based on an average daily volume of 43,390 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 763,212 shares of the biotechnology company’s stock after acquiring an additional 665,000 shares during the quarter. Anson Funds Management LP owned 149.65% of 22nd Century Group worth $588,000 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 Down 6.6%

Shares of XXII traded down $0.16 during trading hours on Tuesday, reaching $2.21. The stock had a trading volume of 73,328 shares, compared to its average volume of 34,139. The firm has a 50-day simple moving average of $5.63 and a 200 day simple moving average of $13.94. 22nd Century Group has a 12 month low of $1.95 and a 12 month high of $841.80. The company has a current ratio of 2.42, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.46 million, a price-to-earnings ratio of 0.00 and a beta of 1.03.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 22nd Century Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, 22nd Century Group presently has a consensus 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.