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

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 4,500 shares, a decline of 98.4% from the November 30th total of 286,600 shares. Based on an average daily volume of 70,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of 22nd Century Group in a research report on Wednesday. They set a “hold” rating for the company.

22nd Century Group Stock Up 2.5 %

NASDAQ:XXII opened at $5.26 on Friday. The firm’s 50 day simple moving average is $11.79 and its 200 day simple moving average is $49.17. The company has a market cap of $1.80 million, a PE ratio of -0.24 and a beta of 1.50. 22nd Century Group has a one year low of $3.90 and a one year high of $581.85. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93.

22nd Century Group (NASDAQ:XXII) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) earnings per share (EPS) for the quarter. The firm had revenue of $5.95 million during the quarter. 22nd Century Group had a negative net margin of 144.09% and a negative return on equity of 380.39%.

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 shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing. Institutional investors and hedge funds own 18.06% of the company’s stock.

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.