22nd Century Group (NASDAQ:XXII) Trading 2.6% Higher – Time to Buy?

22nd Century Group, Inc (NASDAQ:XXII) shares were up 2.6% on Monday . The company traded as high as $1.59 and last traded at $1.55. Approximately 511,186 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 773,148 shares. The stock had previously closed at $1.51.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of 22nd Century Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

22nd Century Group Trading Up 2.6%

The stock has a market cap of $5.86 million, a P/E ratio of 0.00 and a beta of 1.95. The firm has a 50-day simple moving average of $1.65 and a two-hundred day simple moving average of $8.33.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings data on Thursday, August 14th. The biotechnology company reported ($13.16) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($12.89). The firm had revenue of $4.08 million for the quarter, compared to the consensus estimate of $5.44 million. 22nd Century Group had a negative return on equity of 344.13% and a negative net margin of 80.22%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its position in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 255.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,094 shares of the biotechnology company’s stock after buying an additional 126,536 shares during the period. Anson Funds Management LP owned approximately 7.47% of 22nd Century Group worth $254,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Company Profile

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.