22nd Century Group (NASDAQ:XXII) Shares to Reverse Split on Tuesday, December 17th

22nd Century Group, Inc. (NASDAQ:XXII)’s stock is going to reverse split on Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 16th.

22nd Century Group Price Performance

XXII stock traded down $0.02 during midday trading on Friday, reaching $0.05. The stock had a trading volume of 41,891,944 shares, compared to its average volume of 3,301,603. 22nd Century Group has a 52-week low of $0.04 and a 52-week high of $4.31. The company has a market cap of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The company’s fifty day simple moving average is $0.11 and its 200 day simple moving average is $0.43. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The business had revenue of $5.95 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on 22nd Century Group in a research report on Friday. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP bought a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group at the end of the most recent reporting period. Institutional investors and hedge funds own 18.06% of the company’s stock.

About 22nd Century Group

22nd Century Group, Inc, a tobacco products company, engages in the sale and distribution of its own proprietary new reduced nicotine tobacco products. The company offers reduced nicotine content tobacco plants and very low nicotine combustible cigarette products. It also provides contract manufacturing services for conventional combustible tobacco products for third-party brands.