22nd Century Group, Inc. (NASDAQ:XXII – Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 203,200 shares, a decline of 38.0% from the August 15th total of 327,700 shares. Based on an average daily volume of 436,500 shares, the days-to-cover ratio is currently 0.5 days. Approximately 2.5% of the company’s stock are short sold.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on 22nd Century Group in a research report on Saturday. They set a “sell” rating on the stock.
View Our Latest Stock Report on 22nd Century Group
22nd Century Group Stock Performance
22nd Century Group (NASDAQ:XXII – Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. The company had revenue of $7.95 million during the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%.
Institutional Investors Weigh In On 22nd Century Group
An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP increased its position in 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 18.06% of the company’s stock.
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.
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