22nd Century Group Inc (XXII) Sees Significant Increase in Short Interest
22nd Century Group Inc (NYSEAMERICAN:XXII) was the target of a large growth in short interest during the month of March. As of March 29th, there was short interest totalling 23,372,484 shares, a growth of 0.7% from the March 15th total of 23,217,501 shares. Based on an average daily volume of 1,611,057 shares, the short-interest ratio is presently 14.5 days. Approximately 20.6% of the company’s shares are short sold.
Shares of XXII traded down $0.06 on Tuesday, reaching $1.82. The stock had a trading volume of 2,082,000 shares, compared to its average volume of 1,862,099. 22nd Century Group has a 12-month low of $1.58 and a 12-month high of $3.29.
22nd Century Group (NYSEAMERICAN:XXII) last posted its quarterly earnings data on Wednesday, March 6th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $7.14 million during the quarter.
A number of research firms recently issued reports on XXII. TheStreet downgraded shares of 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th. Chardan Capital reaffirmed a “buy” rating and set a $11.50 price objective on shares of 22nd Century Group in a research report on Friday, March 15th.
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About 22nd Century Group
22nd Century Group, Inc, a plant biotechnology company, provides technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The company offers premium cigarettes under the RED SUN and MAGIC brands; and SPECTRUM research cigarettes for use in independent clinical studies.
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