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

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 64,700 shares, a drop of 71.1% from the February 28th total of 223,500 shares. Based on an average daily trading volume, of 875,400 shares, the short-interest ratio is currently 0.1 days. Currently, 4.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a report on Saturday, March 22nd. StockNews.com lowered shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st.

22nd Century Group Stock Performance

NASDAQ:XXII opened at $1.44 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09. The stock has a 50-day simple moving average of $3.00 and a two-hundred day simple moving average of $11.90. The firm has a market capitalization of $2.47 million, a PE ratio of 0.00 and a beta of 1.67. 22nd Century Group has a 52-week low of $1.40 and a 52-week high of $581.85.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently bought a new stake 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 the company in its most recent disclosure with the SEC. The institutional investor bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group as of its most recent filing with the SEC. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

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.