22nd Century Group (NASDAQ:XXII) Shares Up 7.8% – Here’s What Happened

Shares of 22nd Century Group, Inc (NASDAQ:XXII) were up 7.8% during trading on Friday. The company traded as high as $0.94 and last traded at $0.9140. Approximately 120,417 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 246,087 shares. The stock had previously closed at $0.8480.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XXII. Weiss Ratings raised shares of 22nd Century Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of 22nd Century Group to a “sell” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

22nd Century Group Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.61. The firm has a market capitalization of $471,624.00, a price-to-earnings ratio of -0.00 and a beta of 0.72. The business has a fifty day moving average of $2.89 and a two-hundred day moving average of $15.80.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Thursday, August 13th. The biotechnology company reported ($15.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.00) by ($9.60). 22nd Century Group had a negative net margin of 27.04% and a negative return on equity of 69.37%. The business had revenue of $2.86 million for the quarter, compared to analyst estimates of $7.48 million.

About 22nd Century Group

22nd Century Group, Inc (NASDAQ: XXII) is a biotechnology and tobacco company focused on developing products designed to reduce the health risks associated with smoking. Its technology uses genetic engineering and plant breeding to control the nicotine content of tobacco, with the goal of helping adult smokers reduce nicotine consumption and dependence.

The company’s best-known product is VLN cigarettes, which contain substantially less nicotine than conventional cigarettes. VLN products were developed as a potential reduced-nicotine alternative for adult smokers and received authorization from the U.S.