22nd Century Group Inc (XXII) Sees Significant Growth in Short Interest
22nd Century Group Inc (NYSEAMERICAN:XXII) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 9,244,966 shares, a growth of 8.9% from the November 15th total of 8,488,763 shares. Currently, 8.7% of the company’s shares are sold short. Based on an average daily volume of 2,012,038 shares, the days-to-cover ratio is currently 4.6 days.
In other 22nd Century Group news, VP Michael Robert Moynihan sold 50,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $2.67, for a total value of $133,500.00. Following the completion of the transaction, the vice president now directly owns 867,220 shares in the company, valued at approximately $2,315,477.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in 22nd Century Group by 17.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,894,322 shares of the biotechnology company’s stock valued at $5,065,000 after purchasing an additional 432,450 shares in the last quarter. Virtu KCG Holdings LLC increased its stake in 22nd Century Group by 300.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 126,106 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 94,650 shares in the last quarter. Advisor Group Inc. increased its stake in 22nd Century Group by 49.3% during the 3rd quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 24,375 shares in the last quarter. Bristol Advisors LLC bought a new stake in 22nd Century Group during the 3rd quarter valued at about $201,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in 22nd Century Group during the 3rd quarter valued at about $100,000.
22nd Century Group (NYSEAMERICAN:XXII) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The business had revenue of $4.53 million during the quarter, compared to the consensus estimate of $5.09 million. 22nd Century Group had a negative return on equity of 50.30% and a negative net margin of 73.20%. The firm’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share.
XXII has been the subject of several research reports. Chardan Capital increased their price target on shares of 22nd Century Group from $3.50 to $11.50 and gave the stock a “buy” rating in a research note on Monday, October 16th. Zacks Investment Research lowered shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research note on Saturday, September 2nd.
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