22nd Century Group (NASDAQ:XXII) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Shares of 22nd Century Group, Inc (NASDAQ:XXII) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.25 and traded as low as $0.6040. 22nd Century Group shares last traded at $0.67, with a volume of 1,103,835 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

22nd Century Group Stock Performance

The stock’s 50-day moving average price is $2.25 and its 200 day moving average price is $8.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 2.12. The firm has a market cap of $2.99 million, a P/E ratio of 0.00 and a beta of 0.77.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($5.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($3.87). 22nd Century Group had a negative return on equity of 84.37% and a negative net margin of 25.34%.The firm had revenue of $4.11 million for the quarter, compared to the consensus estimate of $4.61 million.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP boosted its position in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,212 shares of the biotechnology company’s stock after acquiring an additional 665,000 shares during the quarter. Anson Funds Management LP owned 149.65% of 22nd Century Group worth $588,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.06% of the company’s stock.

22nd Century Group Company Profile

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.