22nd Century Group (NASDAQ:XXII) Stock Price Down 11.3%

22nd Century Group, Inc. (NASDAQ:XXII) shares fell 11.3% during mid-day trading on Monday . The stock traded as low as $0.72 and last traded at $0.75. 247,475 shares changed hands during trading, a decline of 71% from the average session volume of 843,220 shares. The stock had previously closed at $0.84.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 22nd Century Group to a “sell” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, 22nd Century Group presently has an average rating of “Hold” and a consensus price target of $100.00.

22nd Century Group Stock Performance

The company has a fifty day moving average of $0.90 and a two-hundred day moving average of $18.06. The company has a market cap of $6.18 million, a PE ratio of -0.01 and a beta of 1.37.

22nd Century Group (NASDAQ:XXII) last released its earnings results on Wednesday, May 15th. The biotechnology company reported ($1.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.28) by $3.56. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 233.06%. The business had revenue of $6.47 million for the quarter, compared to analyst estimates of $7.86 million.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 18.06% of the stock is 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.