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

StockNews.com began coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research report report published on Friday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

22nd Century Group Price Performance

XXII opened at $0.10 on Friday. The firm has a market cap of $3.14 million, a PE ratio of 0.00 and a beta of 1.45. The stock has a 50-day moving average price of $0.22 and a 200-day moving average price of $0.72. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $8.63.

22nd Century Group (NASDAQ:XXII) last issued its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The firm 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 Inflows and Outflows

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 first quarter, according to the company in its most recent 13F filing with the SEC. 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 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 18.06% of the stock is currently owned by institutional investors and hedge funds.

About 22nd Century Group

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.