StockNews.com Initiates Coverage on 22nd Century Group (NASDAQ:XXII)

StockNews.com started coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research note published on Saturday. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Price Performance

XXII opened at $0.34 on Friday. 22nd Century Group has a fifty-two week low of $0.26 and a fifty-two week high of $22.40. The company’s 50 day moving average price is $0.59 and its two-hundred day moving average price is $6.66. The firm has a market capitalization of $3.17 million, a price-to-earnings ratio of 0.00 and a beta of 1.41.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The business had revenue of $7.95 million during the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 275.12%.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. Institutional investors own 18.06% of the company’s stock.

22nd Century Group Company Profile

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.