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

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

22nd Century Group Trading Down 33.2 %

Shares of XXII stock opened at $0.05 on Friday. 22nd Century Group has a 1-year low of $0.04 and a 1-year high of $4.31. The company has a market cap of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $0.11 and a 200-day simple moving average of $0.42.

22nd Century Group’s stock is set to reverse split on Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 16th.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period. Institutional investors own 18.06% of the company’s stock.

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.