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

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

22nd Century Group Stock Down 16.4 %

Shares of NASDAQ:XXII opened at $0.18 on Wednesday. 22nd Century Group has a 12-month low of $0.18 and a 12-month high of $15.84. The company’s 50 day moving average price is $0.47 and its two-hundred day moving average price is $3.62. The firm has a market cap of $1.49 million, a PE ratio of 0.00 and a beta of 1.41.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The company had revenue of $7.95 million for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 275.12%.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP grew its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the period. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.