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

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

22nd Century Group Price Performance

Shares of XXII stock opened at $0.13 on Monday. The company’s fifty day simple moving average is $0.35 and its two-hundred day simple moving average is $1.08. 22nd Century Group has a 1 year low of $0.13 and a 1 year high of $9.88. The stock has a market capitalization of $1.09 million, a price-to-earnings ratio of 0.00 and a beta of 1.39.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share 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 increased its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after acquiring 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 SEC filing. Institutional investors and hedge funds own 18.06% of the company’s stock.

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.