22nd Century Group, Inc (NASDAQ:XXII – Get Free Report) was the recipient 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 trading volume of 27,972 shares, the short-interest ratio is currently 1.5 days. Currently, 8.4% of the shares of the company are sold short.
Institutional Investors Weigh In On 22nd Century Group
An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its stake in shares of 22nd Century Group, Inc (NASDAQ:XXII – Free Report) by 677.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 763,212 shares of the biotechnology company’s stock after buying an additional 665,000 shares during the period. Anson Funds Management LP owned about 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 Performance
XXII opened at $2.05 on Friday. 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 has a 12-month low of $1.99 and a 12-month high of $646.50. The firm has a 50 day moving average of $3.79 and a two-hundred day moving average of $25.40. The firm has a market capitalization of $1.07 million, a PE ratio of -0.00 and a beta of 0.60.
Wall Street Analyst Weigh In
XXII has been the subject of a number of research analyst reports. Wall Street Zen upgraded 22nd Century Group to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings raised 22nd Century Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on 22nd Century Group
About 22nd Century Group
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.
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