22nd Century Group, Inc (NASDAQ:XXII – Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-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 changing hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, 22nd Century Group presently has an average rating of “Sell”.
22nd Century Group Price Performance
22nd Century Group (NASDAQ:XXII – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($5.07) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($3.87). The company had revenue of $4.11 million during the quarter, compared to analyst estimates of $4.61 million. 22nd Century Group had a negative net margin of 25.34% and a negative return on equity of 84.37%.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in 22nd Century Group stock. Geode Capital Management LLC acquired a new position in 22nd Century Group, Inc (NASDAQ:XXII – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,491 shares of the biotechnology company’s stock, valued at approximately $36,000. Geode Capital Management LLC owned approximately 9.12% of 22nd Century Group as of its most recent SEC filing. Institutional investors and hedge funds own 18.06% of the company’s stock.
About 22nd Century Group
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.
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