22nd Century Group Shares Set to Reverse Split on Thursday, November 5th (NASDAQ:XXII)

22nd Century Group, Inc (NASDAQ:XXII)’s stock is going to reverse split on the morning of Thursday, November 5th. The 1-58 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 4th.

22nd Century Group Price Performance

Shares of XXII traded down $0.01 during midday trading on Wednesday, hitting $0.04. 43,301,068 shares of the company traded hands, compared to its average volume of 4,860,314. The stock has a market cap of $21,840.00, a price-to-earnings ratio of -0.00 and a beta of 0.76. The firm has a 50 day moving average of $1.24 and a 200-day moving average of $37.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.61. 22nd Century Group has a 52 week low of $0.04 and a 52 week high of $411.00.

22nd Century Group (NASDAQ:XXII) last posted its earnings results on Thursday, August 13th. The biotechnology company reported ($15.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.00) by ($9.60). 22nd Century Group had a negative net margin of 27.04% and a negative return on equity of 69.37%. The business had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $7.48 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 22nd Century Group in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

About 22nd Century Group

22nd Century Group, Inc was a biotechnology company focused on developing tobacco products with reduced nicotine content. Its research centered on genetically modified tobacco plants and cigarette formulations designed to lower nicotine exposure and support smoking cessation or harm-reduction efforts.

The company’s principal product was VLN cigarettes, which were made with very low nicotine tobacco and marketed as containing substantially less nicotine than conventional cigarettes. 22nd Century also historically developed and commercialized other reduced-nicotine cigarette products, including Quest, and pursued applications of its plant-science technology in the tobacco and cannabinoid sectors.

Based in the United States, 22nd Century Group sought to serve the U.S.