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

22nd Century Group, Inc. (NASDAQ:XXII) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 192,000 shares, a drop of 92.2% from the March 15th total of 2,450,000 shares. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is presently 0.1 days. Approximately 5.6% of the shares of the stock are short sold.

22nd Century Group Stock Down 9.7 %

Shares of NASDAQ:XXII opened at $1.67 on Thursday. The firm has a fifty day moving average price of $31.99 and a two-hundred day moving average price of $71.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.65 and a quick ratio of 0.48. 22nd Century Group has a one year low of $1.45 and a one year high of $180.91. The company has a market cap of $5.82 million, a price-to-earnings ratio of -0.01 and a beta of 1.53.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new stake in shares of 22nd Century Group during the 3rd quarter valued at $74,000. HighTower Advisors LLC purchased a new stake in shares of 22nd Century Group during the 3rd quarter valued at $77,000. Osaic Holdings Inc. raised its position in shares of 22nd Century Group by 13.7% during the 2nd quarter. Osaic Holdings Inc. now owns 241,087 shares of the biotechnology company’s stock valued at $92,000 after buying an additional 29,047 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of 22nd Century Group during the 2nd quarter valued at $133,000. Finally, Ergoteles LLC purchased a new stake in shares of 22nd Century Group during the 2nd quarter valued at $62,000. 18.06% of the stock is owned by institutional investors.

22nd Century Group Company Profile

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.