22nd Century Group (NASDAQ:XXII) Stock Price Down 1.1% – Time to Sell?

Shares of 22nd Century Group, Inc (NASDAQ:XXII) were down 1.1% on Monday . The stock traded as low as $4.21 and last traded at $4.2820. 4,405 shares changed hands during trading, a decline of 75% from the average daily volume of 17,823 shares. The stock had previously closed at $4.33.

Analyst Ratings Changes

Several equities analysts have commented on XXII shares. Weiss Ratings lowered shares of 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of 22nd Century Group to a “sell” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, 22nd Century Group presently has a consensus rating of “Sell”.

22nd Century Group Stock Down 1.1%

The business’s fifty day moving average price is $7.64 and its 200 day moving average price is $76.43. The company has a quick ratio of 2.12, a current ratio of 2.67 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.23 million, a PE ratio of -0.00 and a beta of 0.67.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($5.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($24.00) by $18.93. 22nd Century Group had a negative return on equity of 84.37% and a negative net margin of 25.34%.The firm had revenue of $4.11 million for the quarter, compared to analyst estimates of $4.61 million.

Institutional Inflows and Outflows

A hedge fund recently raised its position in 22nd Century Group stock. Anson Funds Management LP grew its stake in 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 763,212 shares of the biotechnology company’s stock after purchasing an additional 665,000 shares during the period. Anson Funds Management LP owned approximately 149.65% of 22nd Century Group worth $588,000 at the end of the most recent reporting period. Institutional investors own 18.06% of the company’s stock.

About 22nd Century Group

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.