22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Up 446.3% in September

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,110,000 shares, an increase of 446.3% from the August 31st total of 203,200 shares. Based on an average trading volume of 3,620,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 6.0% of the company’s stock are sold short.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. Institutional investors own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of 22nd Century Group in a report on Thursday. They issued a “sell” rating on the stock.

22nd Century Group Price Performance

22nd Century Group stock opened at $0.25 on Friday. The company has a market cap of $2.10 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. The firm has a 50-day moving average of $0.49 and a 200-day moving average of $4.51. 22nd Century Group has a one year low of $0.24 and a one year high of $16.00.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. The company had revenue of $7.95 million for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%.

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.