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

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

22nd Century Group Price Performance

XXII opened at $0.10 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09. The stock has a fifty day moving average of $0.14 and a 200-day moving average of $0.51. 22nd Century Group has a fifty-two week low of $0.08 and a fifty-two week high of $5.28. The company has a market capitalization of $4.59 million, a P/E ratio of 0.00 and a beta of 1.45.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The business had revenue of $5.95 million during the quarter.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group at the end of the most recent quarter. 18.06% of the stock is owned by institutional investors.

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.