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

Equities research analysts at StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research note issued on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Price Performance

Shares of XXII opened at $0.18 on Tuesday. The company has a 50-day moving average of $0.39 and a two-hundred day moving average of $2.20. The stock has a market cap of $1.51 million, a price-to-earnings ratio of 0.00 and a beta of 1.39. 22nd Century Group has a one year low of $0.15 and a one year high of $11.04.

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

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP lifted its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the SEC. 18.06% of the stock is owned by hedge funds and other institutional investors.

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.