22nd Century Group, Inc (NASDAQ:XXII) Short Interest Up 362.6% in August

22nd Century Group, Inc (NASDAQ:XXII) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 43,168 shares, a growth of 362.6% from the August 15th total of 9,331 shares. Currently, 8.4% of the company’s stock are sold short. Based on an average daily trading volume, of 27,972 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP raised its stake in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,212 shares of the biotechnology company’s stock after purchasing an additional 665,000 shares during the quarter. Anson Funds Management LP owned about 149.65% of 22nd Century Group worth $588,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 18.06% of the company’s stock.

Analysts Set New Price Targets

XXII has been the subject of a number of analyst reports. Wall Street Zen upgraded 22nd Century Group to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings upgraded 22nd Century Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, 22nd Century Group presently has an average rating of “Sell”.

22nd Century Group Stock Performance

XXII stock opened at $2.05 on Friday. 22nd Century Group has a one year low of $1.99 and a one year high of $646.50. The firm has a market cap of $1.07 million, a price-to-earnings ratio of -0.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.61. The firm has a 50-day simple moving average of $3.79 and a two-hundred day simple moving average of $25.40.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Thursday, August 13th. The biotechnology company reported ($15.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.00) by ($9.60). The firm had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $7.48 million. 22nd Century Group had a negative return on equity of 69.37% and a negative net margin of 27.04%.

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.