22nd Century Group Inc (NYSEAMERICAN:XXII) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 10,127,860 shares, a growth of 20.7% from the February 15th total of 8,392,791 shares. Based on an average daily volume of 2,278,112 shares, the short-interest ratio is currently 4.4 days. Approximately 18.7% of the company’s stock are short sold.
XXII has been the subject of several recent research reports. Chardan Capital reiterated a “buy” rating and set a $11.50 price objective on shares of 22nd Century Group in a report on Friday, January 26th. Zacks Investment Research lowered 22nd Century Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th.
Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of 22nd Century Group in the third quarter valued at about $100,000. Wells Fargo & Company MN grew its position in 22nd Century Group by 1,422.2% during the third quarter. Wells Fargo & Company MN now owns 68,500 shares of the biotechnology company’s stock worth $190,000 after buying an additional 64,000 shares in the last quarter. Monashee Investment Management LLC acquired a new stake in 22nd Century Group during the fourth quarter worth about $195,000. Advisor Group Inc. grew its position in 22nd Century Group by 49.3% during the third quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock worth $204,000 after buying an additional 24,375 shares in the last quarter. Finally, Creative Planning grew its position in 22nd Century Group by 38.7% during the fourth quarter. Creative Planning now owns 73,915 shares of the biotechnology company’s stock worth $207,000 after buying an additional 20,628 shares in the last quarter.
NYSEAMERICAN XXII traded up $0.14 during trading on Monday, hitting $2.35. 2,573,900 shares of the company traded hands, compared to its average volume of 4,003,062. 22nd Century Group has a 12 month low of $1.07 and a 12 month high of $4.44.
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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