22nd Century Group (NASDAQ:XXII) Receives New Coverage from Analysts at StockNews.com

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

22nd Century Group Stock Performance

Shares of 22nd Century Group stock opened at $0.11 on Friday. The business has a 50-day simple moving average of $0.27 and a 200-day simple moving average of $0.77. 22nd Century Group has a one year low of $0.09 and a one year high of $8.63. The company has a market cap of $932,850.00, a PE ratio of 0.00 and a beta of 1.39.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results 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 for the quarter.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings 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 Securities and Exchange Commission (SEC). The fund owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 18.06% of the stock is owned by institutional investors and hedge funds.

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.