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

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

22nd Century Group Price Performance

Shares of NASDAQ XXII opened at $0.10 on Wednesday. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $6.56. The stock has a market capitalization of $4.66 million, a P/E ratio of 0.00 and a beta of 1.45. The company’s 50-day moving average is $0.19 and its 200 day moving average is $0.64.

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

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its holdings in 22nd Century Group, Inc. (NASDAQ:XXIIFree Report) by 106.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is owned by institutional investors and hedge funds.

About 22nd Century Group

(Get Free Report)

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.

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