22nd Century Group (NASDAQ:XXII) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

22nd Century Group, Inc (NASDAQ:XXII) 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 traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut 22nd Century Group from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

22nd Century Group Trading Down 3.0%

The company has a market cap of $2.72 million, a PE ratio of 0.00 and a beta of 0.77. The company has a current ratio of 2.67, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $2.11 and a 200 day moving average price of $8.34.

22nd Century Group (NASDAQ:XXII) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($5.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($3.87). The firm had revenue of $4.11 million during the quarter, compared to analysts’ expectations 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

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its stake in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 677.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 763,212 shares of the biotechnology company’s stock after buying an additional 665,000 shares during the quarter. Anson Funds Management LP owned about 149.65% of 22nd Century Group worth $588,000 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, 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.