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

22nd Century Group, Inc. (NASDAQ:XXII)’s share 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 changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on XXII shares. StockNews.com cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a report on Wednesday, February 19th.

22nd Century Group Price Performance

The company’s fifty day moving average price is $4.42 and its 200 day moving average price is $17.64. The company has a market capitalization of $3.52 million, a P/E ratio of 0.00 and a beta of 1.67. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.59.

Institutional Inflows and Outflows

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) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 6.77% of 22nd Century Group at the end of the most recent reporting period. Institutional investors and hedge funds 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.