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

22nd Century Group, Inc. (NASDAQ:XXII)’s stock is set to reverse split on the morning of 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 Trading Down 33.2 %

Shares of NASDAQ:XXII traded down $0.02 during midday trading 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 stock has a market cap of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. 22nd Century Group has a fifty-two week low of $0.04 and a fifty-two week high of $4.31. The firm’s 50 day simple moving average is $0.11 and its two-hundred day simple moving average is $0.43. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on 22nd Century Group in a research report on Friday. They set 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 acquired a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 18.06% of the company’s stock.

About 22nd Century Group

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.