22nd Century Group, Inc (NASDAQ:XXII) Shares Shorted: Short Interest Up 3,074.8% in October

22nd Century Group, Inc (NASDAQ:XXII) was the recipient of a large increase in short interest in October. As of October 30th, there was short interest totaling 1,198,947 shares, an increase of 3,074.8% from the October 15th total of 37,764 shares. Approximately 13,321.6% of the company’s stock are short sold. Based on an average trading volume of 63,446,721 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

22nd Century Group Stock Up 9.9%

Shares of XXII stock opened at $1.56 on Thursday. The stock’s fifty day moving average price is $54.50 and its 200 day moving average price is $1,805.32. 22nd Century Group has a 1-year low of $1.32 and a 1-year high of $21,489.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.61.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results on Thursday, August 13th. The biotechnology company reported ($904.80) EPS for the quarter, missing analysts’ consensus estimates of ($348.00) by ($556.80). The business had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $7.48 million. 22nd Century Group had a negative net margin of 27.04% and a negative return on equity of 69.37%.

22nd Century Group Company Profile

22nd Century Group, Inc. was a biotechnology company focused on developing tobacco products with reduced nicotine content. Its research centered on genetically modified tobacco plants and cigarette formulations designed to lower nicotine exposure and support smoking cessation or harm-reduction efforts. The company’s principal product was VLN cigarettes, which were made with very low nicotine tobacco and marketed as containing substantially less nicotine than conventional cigarettes. 22nd Century also historically developed and commercialized other reduced-nicotine cigarette products, including Quest, and pursued applications of its plant-science technology in the tobacco and cannabinoid sectors.