22nd Century Group (NASDAQ:XXII) Trading Down 29.2% – Time to Sell?

Shares of 22nd Century Group, Inc (NASDAQ:XXII) dropped 29.2% during mid-day trading on Tuesday . The stock traded as low as $0.3557 and last traded at $0.3650. Approximately 2,883,478 shares were traded during trading, an increase of 503% from the average daily volume of 478,555 shares. The stock had previously closed at $0.5159.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, 22nd Century Group currently has a consensus rating of “Sell”.

22nd Century Group Stock Performance

The company has a current ratio of 2.67, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.63 million, a price-to-earnings ratio of 0.00 and a beta of 0.63. The company has a 50-day moving average of $1.28 and a 200-day moving average of $6.66.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($5.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($3.87). The firm had revenue of $4.11 million for the quarter, compared to analyst estimates of $4.61 million. 22nd Century Group had a negative net margin of 25.34% and a negative return on equity of 84.37%.

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP boosted its stake in 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 763,212 shares of the biotechnology company’s stock after buying an additional 665,000 shares during the period. Anson Funds Management LP owned 149.65% of 22nd Century Group worth $588,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Company Profile

22nd Century Group, Inc, founded in 1998 and headquartered in New York, is a plant biotechnology company that applies proprietary breeding and gene modulation technologies to tobacco, hemp and related plant species. The company’s core mission is to develop and commercialize plant-based solutions that address public health, consumer wellness and agronomic needs. Its flagship reduced nicotine tobacco platform is engineered to deliver significantly lower levels of nicotine than conventional tobacco products while retaining the sensory characteristics sought by adult smokers.

Through its branded reduced nicotine tobacco products, marketed under the NEXT Generation™ portfolio, and its GenCanna® subsidiary focused on hemp cultivation and cannabinoid extraction, 22nd Century serves both commercial markets and contract research clients.