22nd Century Group (NASDAQ:XXII) Shares Down 3.2% – Here’s What Happened
by Scott Moore · The Cerbat Gem22nd Century Group, Inc (NASDAQ:XXII – Get Free Report) shares dropped 3.2% on Tuesday . The company traded as low as $2.05 and last traded at $2.14. Approximately 22,998 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 56,738 shares. The stock had previously closed at $2.21.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.
View Our Latest Report on 22nd Century Group
22nd Century Group Trading Down 3.2%
The stock has a market capitalization of $1.54 million, a PE ratio of 0.00 and a beta of 1.12. The company has a quick ratio of 1.83, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average is $3.62 and its two-hundred day moving average is $11.29.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP raised its holdings in 22nd Century Group, Inc (NASDAQ:XXII – Free Report) by 677.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 763,212 shares of the biotechnology company’s stock after purchasing an additional 665,000 shares during the quarter. Anson Funds Management LP owned about 149.65% of 22nd Century Group worth $588,000 as of its most recent filing with the SEC. 18.06% of the stock is owned by institutional investors.
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.