22nd Century Group, Inc (NASDAQ:XXII) Sees Significant Growth in Short Interest

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 71,897 shares, a growth of 18.8% from the February 26th total of 60,498 shares. Based on an average trading volume of 43,390 shares, the days-to-cover ratio is presently 1.7 days. Currently, 14.1% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC bought a new stake in shares of 22nd Century Group, Inc (NASDAQ:XXII) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned 9.12% of 22nd Century Group as of its most recent SEC filing. 18.06% of the stock is owned by institutional investors.

22nd Century Group Stock Performance

Shares of NASDAQ XXII traded down $0.16 during mid-day trading on Tuesday, reaching $2.21. 73,328 shares of the company’s stock were exchanged, compared to its average volume of 34,139. The firm has a 50-day moving average price of $5.63 and a two-hundred day moving average price of $13.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.83. The firm has a market capitalization of $1.46 million, a price-to-earnings ratio of 0.00 and a beta of 1.03. 22nd Century Group has a 52 week low of $1.95 and a 52 week high of $841.80.

About 22nd Century Group

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.