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

Shares of 22nd Century Group, Inc. (NASDAQ:XXII) are scheduled 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 Stock Performance

NASDAQ:XXII traded down $0.02 during mid-day trading on Friday, hitting $0.05. 41,891,944 shares of the company’s stock traded hands, compared to its average volume of 3,301,603. The firm has a market capitalization of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The firm has a 50 day moving average of $0.11 and a two-hundred day moving average of $0.43. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. 22nd Century Group has a 12 month low of $0.04 and a 12 month high of $4.31.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP acquired a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 currently owned by institutional investors.

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.