Shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) are set to reverse split on Tuesday, April 2nd. The 1-16 reverse split was announced on Tuesday, April 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, April 2nd.
22nd Century Group Stock Down 8.7 %
Shares of NASDAQ XXII traded down $0.01 during mid-day trading on Friday, reaching $0.12. The company had a trading volume of 3,495,353 shares, compared to its average volume of 1,216,440. The company has a current ratio of 1.02, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $0.15 and a two-hundred day simple moving average of $0.36. The stock has a market cap of $3.71 million, a P/E ratio of -0.01 and a beta of 1.54. 22nd Century Group has a 52-week low of $0.10 and a 52-week high of $12.00.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in shares of 22nd Century Group in the 2nd quarter valued at $26,000. ExodusPoint Capital Management LP purchased a new position in shares of 22nd Century Group in the 2nd quarter valued at $36,000. Renaissance Technologies LLC purchased a new position in shares of 22nd Century Group in the 1st quarter valued at $40,000. Virtu Financial LLC purchased a new position in 22nd Century Group during the 1st quarter worth $41,000. Finally, First Western Trust Bank purchased a new position in 22nd Century Group during the 1st quarter worth $43,000. 18.06% of the stock is owned by hedge funds and other institutional investors.
22nd Century Group Company Profile
22nd Century Group, Inc, an agricultural biotechnology company, focuses on tobacco harm reduction, reduced nicotine tobacco, and enhancing health and wellness through plant science for the life science and consumer products industries. It develops very low nicotine content tobacco and cigarette products under the VLN King and VLN Menthol King names; and SPECTRUM research cigarettes for use in independent clinical studies.
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