22nd Century Group, Inc (NASDAQ:XXII) Short Interest Update

22nd Century Group, Inc (NASDAQ:XXII) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 28,931 shares, a drop of 90.4% from the January 15th total of 301,447 shares. Currently, 5.7% of the company’s shares are sold short. Based on an average trading volume of 28,915 shares, the short-interest ratio is presently 1.0 days. Based on an average trading volume of 28,915 shares, the short-interest ratio is presently 1.0 days. Currently, 5.7% of the company’s shares are sold short.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC acquired a new position in shares of 22nd Century Group, Inc (NASDAQ:XXII) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned approximately 9.12% of 22nd Century Group as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 18.06% of the company’s stock.

Wall Street Analysts Forecast Growth

XXII has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, December 29th. Wall Street Zen raised 22nd Century Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

22nd Century Group Stock Up 1.6%

Shares of XXII stock opened at $5.62 on Thursday. The firm has a market capitalization of $2.87 million, a P/E ratio of -0.01 and a beta of 1.07. The stock’s fifty day simple moving average is $11.98 and its 200 day simple moving average is $20.65. 22nd Century Group has a twelve month low of $5.18 and a twelve month high of $1,198.36.

About 22nd Century Group

22nd Century Group, Inc, founded in 1998 and headquartered in New York, is a plant biotechnology company that applies proprietary breeding and gene modulation technologies to tobacco, hemp and related plant species. The company’s core mission is to develop and commercialize plant-based solutions that address public health, consumer wellness and agronomic needs. Its flagship reduced nicotine tobacco platform is engineered to deliver significantly lower levels of nicotine than conventional tobacco products while retaining the sensory characteristics sought by adult smokers.

Through its branded reduced nicotine tobacco products, marketed under the NEXT Generation™ portfolio, and its GenCanna® subsidiary focused on hemp cultivation and cannabinoid extraction, 22nd Century serves both commercial markets and contract research clients.