22nd Century Group, Inc. (NASDAQ:XXII) Sees Large Increase in Short Interest

22nd Century Group, Inc. (NASDAQ:XXII) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 223,500 shares, an increase of 40.7% from the February 13th total of 158,900 shares. Currently, 18.5% of the shares of the stock are sold short. Based on an average trading volume of 886,300 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP bought a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group as of its most recent SEC filing. 18.06% of the stock is currently owned by institutional investors.

22nd Century Group Trading Up 4.1 %

Shares of 22nd Century Group stock opened at $1.79 on Tuesday. The firm has a 50-day simple moving average of $3.79 and a two-hundred day simple moving average of $13.63. The company has a market cap of $3.07 million, a P/E ratio of 0.00 and a beta of 1.67. 22nd Century Group has a fifty-two week low of $1.68 and a fifty-two week high of $581.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09.

Analyst Ratings Changes

XXII has been the subject of a number of analyst reports. StockNews.com downgraded shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Weiss Ratings reiterated a “sell (e)” rating on shares of 22nd Century Group in a research report on Friday, March 7th.

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.