22nd Century Group (NASDAQ:XXII) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

22nd Century Group, Inc. (NASDAQ:XXII)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.42 and traded as low as $1.90. 22nd Century Group shares last traded at $2.05, with a volume of 78,197 shares trading hands.

Analysts Set New Price Targets

XXII has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research note on Wednesday, February 19th. StockNews.com lowered shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st.

22nd Century Group Price Performance

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 stock has a market cap of $3.52 million, a price-to-earnings ratio of 0.00 and a beta of 1.67. The business’s 50-day simple moving average is $4.42 and its two-hundred day simple moving average is $17.64.

Institutional Trading of 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP bought a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is owned by hedge funds and other institutional investors.

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.