Short Interest in 22nd Century Group, Inc. (NASDAQ:XXII) Decreases By 98.4%

22nd Century Group, Inc. (NASDAQ:XXII) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 4,500 shares, a drop of 98.4% from the November 30th total of 286,600 shares. Based on an average daily volume of 70,200 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.0% of the company’s stock are short sold.

Hedge Funds Weigh In On 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 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 18.06% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on 22nd Century Group in a research report on Wednesday. They set a “hold” rating for the company.

22nd Century Group Trading Down 1.6 %

NASDAQ:XXII opened at $5.05 on Thursday. The firm has a market capitalization of $1.73 million, a P/E ratio of -0.23 and a beta of 1.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. 22nd Century Group has a one year low of $3.90 and a one year high of $581.85. The company’s 50-day simple moving average is $11.96 and its 200 day simple moving average is $49.48.

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

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.