22nd Century Group (NASDAQ:XXII) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Price Performance

XXII opened at $0.34 on Friday. The business’s 50-day moving average price is $0.59 and its two-hundred day moving average price is $6.46. 22nd Century Group has a 1 year low of $0.26 and a 1 year high of $22.40. The company 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 released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%. The firm had revenue of $7.95 million during the quarter.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. 18.06% of the stock is currently 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.