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

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

22nd Century Group Stock Performance

NASDAQ XXII opened at $0.29 on Friday. The firm’s fifty day moving average price is $0.53 and its two-hundred day moving average price is $4.82. The stock has a market cap of $2.39 million, a PE ratio of 0.00 and a beta of 1.41. 22nd Century Group has a fifty-two week low of $0.24 and a fifty-two week high of $17.06.

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

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities & Exchange Commission. 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.