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

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 closing bell on Monday, December 16th.

22nd Century Group Stock Performance

Shares of XXII stock traded down $0.02 during trading hours on Friday, reaching $0.05. 41,891,944 shares of the company’s stock were exchanged, compared to its average volume of 3,301,603. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The company’s 50 day moving average is $0.11 and its two-hundred day moving average is $0.43. The company has a market cap of $2.28 million, a P/E ratio of 0.00 and a beta of 1.50. 22nd Century Group has a 1 year low of $0.04 and a 1 year high of $4.31.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share 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.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP purchased a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group as of its most recent SEC filing. Institutional investors own 18.06% of the company’s stock.

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.