22nd Century Group (NASDAQ:XXII) Now Covered by Analysts at StockNews.com

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

22nd Century Group Stock Up 10.0 %

22nd Century Group stock opened at $0.18 on Wednesday. The business’s 50-day simple moving average is $0.45 and its 200 day simple moving average is $3.37. The stock has a market cap of $1.52 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. 22nd Century Group has a 12-month low of $0.15 and a 12-month high of $12.32.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The firm had revenue of $7.95 million during 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

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 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.