22nd Century Group Stock Set to Reverse Split on Tuesday, December 17th (NASDAQ:XXII)

22nd Century Group, Inc. (NASDAQ:XXII)’s stock is going to reverse split before the market opens on Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 16th.

22nd Century Group Trading Down 33.2 %

NASDAQ XXII traded down $0.02 during trading on Friday, reaching $0.05. 41,891,944 shares of the stock traded hands, compared to its average volume of 3,301,603. 22nd Century Group has a fifty-two week low of $0.04 and a fifty-two week high of $4.31. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.59. The firm has a market cap of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The stock’s 50-day moving average price is $0.11 and its 200 day moving average price is $0.43.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) EPS for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The business had revenue of $5.95 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com started coverage on 22nd Century Group in a research report on Friday. They issued a “sell” rating for the company.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP bought a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 6.77% of 22nd Century Group at the end of the most recent quarter. 18.06% of the stock is owned by institutional investors and hedge funds.

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.