Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Declines By 88.1%

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 243,900 shares, a drop of 88.1% from the October 31st total of 2,050,000 shares. Based on an average daily trading volume, of 8,720,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.6% of the company’s stock are short sold.

22nd Century Group Stock Performance

XXII opened at $0.10 on Thursday. The business’s 50-day simple moving average is $0.15 and its 200 day simple moving average is $0.53. 22nd Century Group has a 52-week low of $0.08 and a 52-week high of $5.28. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09. The firm has a market capitalization of $4.80 million, a PE ratio of 0.00 and a beta of 1.45.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.