22nd Century Group Inc (NYSEAMERICAN:XXII) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 17,170,467 shares, a growth of 6.8% from the August 15th total of 16,070,701 shares. Approximately 15.8% of the shares of the stock are sold short. Based on an average daily volume of 1,726,494 shares, the short-interest ratio is currently 9.9 days.
Separately, Zacks Investment Research downgraded 22nd Century Group from a “hold” rating to a “sell” rating in a report on Thursday, August 16th.
In other 22nd Century Group news, VP Thomas L. James sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $2.44, for a total transaction of $122,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several institutional investors and hedge funds have recently modified their holdings of XXII. Bank of New York Mellon Corp raised its holdings in 22nd Century Group by 200.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 337,281 shares of the biotechnology company’s stock worth $830,000 after acquiring an additional 225,039 shares during the last quarter. Bank of Nova Scotia purchased a new position in 22nd Century Group in the 2nd quarter worth approximately $158,000. MetLife Investment Advisors LLC purchased a new position in 22nd Century Group in the 2nd quarter worth approximately $145,000. Metropolitan Life Insurance Co. NY purchased a new position in 22nd Century Group in the 2nd quarter worth approximately $102,000. Finally, Voya Investment Management LLC purchased a new position in 22nd Century Group in the 2nd quarter worth approximately $106,000.
22nd Century Group stock traded down $0.12 during trading hours on Wednesday, hitting $2.71. 1,830,142 shares of the stock traded hands, compared to its average volume of 2,527,214. 22nd Century Group has a one year low of $1.92 and a one year high of $4.44.
22nd Century Group (NYSEAMERICAN:XXII) last posted its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.05) earnings per share for the quarter. The firm had revenue of $6.92 million for the quarter. 22nd Century Group had a negative net margin of 73.20% and a negative return on equity of 50.30%.
22nd Century Group Company Profile
22nd Century Group, Inc, a plant biotechnology company, provides technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. It offers premium cigarettes under the RED SUN and MAGIC brands; and SPECTRUM, a line of research cigarettes for use in independent clinical studies.
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