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

Shares of 22nd Century Group, Inc (NASDAQ:XXII) were up 7.8% during mid-day trading on Friday. The stock traded as high as $0.94 and last traded at $0.9140. Approximately 120,417 shares changed hands 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 Ratings Changes

A number of research firms have commented on XXII. Wall Street Zen upgraded 22nd Century Group to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings upgraded 22nd Century Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

22nd Century Group Trading Up 7.8%

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 stock has a market capitalization of $471,624.00, a P/E ratio of -0.00 and a beta of 0.72. The firm’s fifty day simple moving average is $2.89 and its 200 day simple moving average is $15.80.

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

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.