22nd Century Group (NASDAQ:XXII) Stock Set to Reverse Split on Thursday, November 5th

Shares of 22nd Century Group, Inc (NASDAQ:XXII) are going to reverse split on the morning of Thursday, November 5th. The 1-58 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 4th.

22nd Century Group Trading Down 13.0%

XXII stock traded down $0.01 during trading on Wednesday, hitting $0.04. 43,301,068 shares of the company traded hands, compared to its average volume of 4,860,314. The company has a 50-day moving average of $1.24 and a 200-day moving average of $37.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.61. 22nd Century Group has a 1 year low of $0.04 and a 1 year high of $411.00. The firm has a market capitalization of $21,840.00, a PE ratio of -0.00 and a beta of 0.76.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Thursday, August 13th. The biotechnology company reported ($15.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.00) by ($9.60). 22nd Century Group had a negative return on equity of 69.37% and a negative net margin of 27.04%. The company had revenue of $2.86 million for the quarter, compared to the consensus estimate of $7.48 million.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 22nd Century Group in a research report on Monday, October 26th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, 22nd Century Group presently has a consensus rating of “Sell”.

22nd Century Group Company Profile

22nd Century Group, Inc was a biotechnology company focused on developing tobacco products with reduced nicotine content. Its research centered on genetically modified tobacco plants and cigarette formulations designed to lower nicotine exposure and support smoking cessation or harm-reduction efforts.

The company’s principal product was VLN cigarettes, which were made with very low nicotine tobacco and marketed as containing substantially less nicotine than conventional cigarettes. 22nd Century also historically developed and commercialized other reduced-nicotine cigarette products, including Quest, and pursued applications of its plant-science technology in the tobacco and cannabinoid sectors.

Based in the United States, 22nd Century Group sought to serve the U.S.