22nd Century Group, Inc. (NASDAQ:XXII) Short Interest Up 1,933.3% in December

22nd Century Group, Inc. (NASDAQ:XXII) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 91,500 shares, an increase of 1,933.3% from the December 15th total of 4,500 shares. Based on an average daily volume of 109,400 shares, the short-interest ratio is presently 0.8 days. Currently, 19.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP acquired a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 6.77% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st.

22nd Century Group Stock Up 22.7 %

22nd Century Group stock opened at $6.00 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The company’s 50-day moving average is $9.91 and its 200-day moving average is $41.98. The firm has a market capitalization of $3.32 million, a PE ratio of -0.27 and a beta of 1.59. 22nd Century Group has a fifty-two week low of $3.90 and a fifty-two week high of $581.85.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) earnings per share for the quarter. The business had revenue of $5.95 million for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%.

About 22nd Century Group

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.