Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Declines By 63.8%

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 178,800 shares, a drop of 63.8% from the January 15th total of 493,400 shares. Approximately 11.5% of the shares of the stock are sold short. Based on an average trading volume of 875,300 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP purchased a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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 filing with the Securities and Exchange Commission. Institutional investors own 18.06% of the company’s stock.

Analyst Ratings Changes

XXII has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e)” rating on shares of 22nd Century Group in a research report on Saturday, February 1st. StockNews.com cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st.

22nd Century Group Price Performance

Shares of NASDAQ XXII traded up $0.09 during midday trading on Wednesday, reaching $3.31. 19,350 shares of the company were exchanged, compared to its average volume of 1,911,161. The stock’s 50-day moving average price is $6.00 and its 200-day moving average price is $26.82. The stock has a market cap of $5.68 million, a P/E ratio of 0.00 and a beta of 1.57. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.59. 22nd Century Group has a one year low of $3.04 and a one year high of $581.85.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($72.90) earnings per share for the quarter. The company had revenue of $5.95 million during the quarter.

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.