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

StockNews.com began coverage on shares of 22nd Century Group (NASDAQ:XXII) in a report published on Wednesday. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

Shares of NASDAQ:XXII opened at $0.10 on Wednesday. The business has a 50 day simple moving average of $0.18 and a two-hundred day simple moving average of $0.63. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $6.56.

22nd Century Group (NASDAQ:XXII) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The business had revenue of $5.95 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during 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 SEC filing. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

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.