22nd Century Group (NASDAQ:XXII) Stock Price Up 2.5% – Still a Buy?

22nd Century Group, Inc (NASDAQ:XXII) shares traded up 2.5% during mid-day trading on Friday . The stock traded as high as $5.97 and last traded at $5.81. 71,437 shares traded hands during trading, an increase of 193% from the average session volume of 24,344 shares. The stock had previously closed at $5.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, December 29th. Wall Street Zen raised shares of 22nd Century Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, 22nd Century Group currently has a consensus rating of “Sell”.

22nd Century Group Trading Up 2.5%

The firm has a fifty day moving average price of $12.58 and a 200 day moving average price of $21.66. The firm has a market cap of $2.96 million, a PE ratio of -0.01 and a beta of 1.07.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported ($15.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($251.85) by $235.95. 22nd Century Group had a negative net margin of 37.64% and a negative return on equity of 184.33%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 197.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,212 shares of the biotechnology company’s stock after acquiring an additional 65,174 shares during the quarter. Anson Funds Management LP owned about 1.41% of 22nd Century Group worth $166,000 at the end of the most recent quarter. 18.06% of the stock is owned by institutional investors and hedge funds.

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.