22nd Century Group Inc (NYSEAMERICAN:XXII) saw a significant growth in short interest in the month of June. As of June 29th, there was short interest totalling 14,553,239 shares, a growth of 17.9% from the June 15th total of 12,344,487 shares. Approximately 13.4% of the company’s stock are short sold. Based on an average daily volume of 3,190,205 shares, the days-to-cover ratio is currently 4.6 days.
In other news, VP Thomas L. James sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $2.44, for a total transaction of $122,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in 22nd Century Group by 46.6% in the 1st quarter. BlackRock Inc. now owns 2,809,955 shares of the biotechnology company’s stock valued at $6,602,000 after purchasing an additional 893,319 shares during the period. ETF Managers Group LLC grew its stake in 22nd Century Group by 162.6% in the 1st quarter. ETF Managers Group LLC now owns 1,741,659 shares of the biotechnology company’s stock valued at $4,093,000 after purchasing an additional 1,078,394 shares during the period. Millennium Management LLC grew its stake in 22nd Century Group by 362.4% in the 1st quarter. Millennium Management LLC now owns 1,258,191 shares of the biotechnology company’s stock valued at $2,957,000 after purchasing an additional 986,118 shares during the period. Geode Capital Management LLC grew its stake in 22nd Century Group by 38.5% in the 4th quarter. Geode Capital Management LLC now owns 662,362 shares of the biotechnology company’s stock valued at $1,854,000 after purchasing an additional 184,074 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in 22nd Century Group in the 4th quarter valued at $859,000.
22nd Century Group (NYSEAMERICAN:XXII) last released its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported $0.01 EPS for the quarter. The business had revenue of $6.12 million during the quarter. 22nd Century Group had a negative return on equity of 50.30% and a negative net margin of 73.20%.
Separately, Zacks Investment Research lowered 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Friday, May 11th.
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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