22nd Century Group (NASDAQ:XXII) Trading Down 1.1% – Here’s What Happened

22nd Century Group, Inc (NASDAQ:XXII) shares were down 1.1% during trading on Monday . The company traded as low as $4.21 and last traded at $4.2820. 4,405 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 17,823 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

Several analysts recently weighed in on XXII shares. Weiss Ratings downgraded shares of 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, July 10th. Wall Street Zen raised 22nd Century Group to a “sell” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

22nd Century Group Stock Down 1.1%

The business has a 50-day simple moving average of $7.64 and a 200-day simple moving average of $76.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.12 and a current ratio of 2.67. The company has a market cap of $2.23 million, a price-to-earnings ratio of -0.00 and a beta of 0.67.

22nd Century Group (NASDAQ:XXII) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($5.07) earnings per share for the quarter, beating the consensus estimate of ($24.00) by $18.93. 22nd Century Group had a negative net margin of 25.34% and a negative return on equity of 84.37%. The firm had revenue of $4.11 million for the quarter, compared to analysts’ expectations of $4.61 million.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC acquired a new position in shares of 22nd Century Group, Inc (NASDAQ:XXII) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned approximately 9.12% of 22nd Century Group as of its most recent filing with the SEC. Hedge funds and other institutional investors own 18.06% of the company’s stock.

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.