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

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 307,300 shares, a growth of 40.8% from the May 31st total of 218,300 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 1,660,000 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of 22nd Century Group to a “sell” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.00.

22nd Century Group Trading Down 5.0 %

NASDAQ:XXII opened at $0.75 on Monday. The company’s 50 day moving average is $1.19 and its 200-day moving average is $23.45. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 0.01. 22nd Century Group has a 12 month low of $0.58 and a 12 month high of $110.24. The firm has a market cap of $6.18 million, a price-to-earnings ratio of -0.01 and a beta of 1.42.

22nd Century Group (NASDAQ:XXII) last released its earnings results on Thursday, March 28th. The biotechnology company reported ($10.56) earnings per share for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 233.06%. The firm had revenue of $7.36 million for the quarter.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. Institutional investors own 18.06% of the company’s stock.

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.