22nd Century Group Inc (XXII) Short Interest Update

22nd Century Group Inc (NYSEAMERICAN:XXII) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 17,609,884 shares, a decline of 2.0% from the October 15th total of 17,964,070 shares. Currently, 16.2% of the company’s shares are short sold. Based on an average daily trading volume, of 2,342,610 shares, the days-to-cover ratio is currently 7.5 days.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY purchased a new position in shares of 22nd Century Group during the second quarter valued at about $102,000. Voya Investment Management LLC purchased a new position in shares of 22nd Century Group during the second quarter valued at about $106,000. MetLife Investment Advisors LLC purchased a new position in shares of 22nd Century Group during the second quarter valued at about $145,000. Bank of Nova Scotia purchased a new position in shares of 22nd Century Group during the second quarter valued at about $158,000. Finally, Cobblestone Capital Advisors LLC NY purchased a new position in shares of 22nd Century Group during the second quarter valued at about $159,000.

Shares of NYSEAMERICAN XXII traded up $0.16 during midday trading on Friday, hitting $2.79. 1,909,396 shares of the company traded hands, compared to its average volume of 2,477,089. 22nd Century Group has a 12-month low of $1.92 and a 12-month high of $4.44.

22nd Century Group (NYSEAMERICAN:XXII) last announced its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $6.26 million for the quarter.

Separately, Zacks Investment Research cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th.

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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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