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

22nd Century Group, Inc (NASDAQ:XXII) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 59,044 shares, a decline of 40.8% from the May 14th total of 99,729 shares. Based on an average daily volume of 337,435 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.3% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

22nd Century Group Stock Performance

Shares of NASDAQ XXII traded down $0.13 during mid-day trading on Monday, hitting $6.42. The company had a trading volume of 26,125 shares, compared to its average volume of 41,602. 22nd Century Group has a 12 month low of $5.41 and a 12 month high of $4,485.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 2.12. The firm has a market cap of $1.41 million, a P/E ratio of -0.03 and a beta of 0.63. The business’s 50-day simple moving average is $23.08 and its 200-day simple moving average is $128.09.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($101.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($24.00) by ($77.40). 22nd Century Group had a negative return on equity of 84.37% and a negative net margin of 25.34%.The business had revenue of $4.11 million during the quarter, compared to analyst estimates of $4.61 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP increased its holdings in 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 763,212 shares of the biotechnology company’s stock after purchasing an additional 665,000 shares during the period. Anson Funds Management LP owned approximately 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 Company Profile

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.