22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Update

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 203,800 shares, a decline of 36.5% from the June 30th total of 320,900 shares. Based on an average trading volume of 384,700 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.00.

22nd Century Group Trading Up 6.3 %

XXII stock opened at $0.77 on Friday. The firm has a market cap of $6.35 million, a PE ratio of -0.01 and a beta of 1.37. The business’s 50-day moving average price is $0.84 and its two-hundred day moving average price is $16.96. 22nd Century Group has a 1-year low of $0.58 and a 1-year high of $63.84.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($1.72) earnings per share for the quarter, beating the consensus estimate of ($5.28) by $3.56. 22nd Century Group had a negative net margin of 233.06% and a negative return on equity of 380.39%. The company had revenue of $6.47 million during the quarter, compared to analysts’ expectations of $7.86 million.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. Institutional investors 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.