22nd Century Group Inc (NYSEAMERICAN:XXII) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 8,684,929 shares, a decline of 3.5% from the January 12th total of 9,001,633 shares. Approximately 8.2% of the shares of the stock are sold short. Based on an average daily volume of 6,023,589 shares, the days-to-cover ratio is presently 1.4 days.
Shares of 22nd Century Group (XXII) traded down $0.09 during trading hours on Friday, reaching $3.02. 2,780,540 shares of the company were exchanged, compared to its average volume of 5,340,329. 22nd Century Group has a 52 week low of $0.88 and a 52 week high of $4.44. The company has a market capitalization of $368.22, a P/E ratio of -22.92 and a beta of 3.07.
Several brokerages have issued reports on XXII. Zacks Investment Research lowered 22nd Century Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Chardan Capital reiterated a “buy” rating and issued a $11.50 price target on shares of 22nd Century Group in a report on Friday, January 26th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XXII. Northern Trust Corp boosted its holdings in 22nd Century Group by 22.3% in the second quarter. Northern Trust Corp now owns 133,797 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 24,401 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 worth $5,065,000 after acquiring an additional 432,450 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of 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 worth $221,000 after acquiring an additional 94,650 shares in the last quarter. Bristol Advisors LLC purchased a new stake in shares of 22nd Century Group during the 3rd quarter worth about $201,000. Finally, Advisor Group Inc. boosted its stake in shares of 22nd Century Group by 49.3% during the 3rd quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 24,375 shares in the last quarter.
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22nd Century Group Company Profile
22nd Century Group, Inc is a plant biotechnology company. The Company is focused on technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding. It is engaged in various activities, including research and development of less harmful or modified risk tobacco products and tobacco plant varieties; development of X-22, a smoking cessation aid consisting of very low nicotine (VLN) cigarettes; manufacture, marketing and distribution of its RED SUN and MAGIC cigarettes; production of SPECTRUM research cigarettes for the National Institute on Drug Abuse (NIDA); contract manufacturing of third-party branded tobacco products, and research and development of plant varieties of hemp/cannabis, such as plants with low to no amounts of delta-9-tetrahydrocannabinol (THC), plants with high levels of cannabidiol (CBD), and other non-THC cannabinoids.
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