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

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

22nd Century Group Stock Performance

XXII opened at $0.09 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average is $0.12 and its 200-day moving average is $0.46. The stock has a market cap of $3.94 million, a PE ratio of 0.00 and a beta of 1.50. 22nd Century Group has a twelve month low of $0.08 and a twelve month high of $4.31.

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

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP purchased a new position in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group at the end of the most recent quarter. 18.06% of the stock is owned by hedge funds and other 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.