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

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

22nd Century Group Stock Performance

22nd Century Group stock opened at $0.12 on Friday. The firm has a market cap of $1.01 million, a price-to-earnings ratio of 0.00 and a beta of 1.39. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $8.63. The firm’s 50 day moving average price is $0.28 and its two-hundred day moving average price is $0.80.

22nd Century Group (NASDAQ:XXII) last announced its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 275.12%. The company had revenue of $7.95 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 holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,577,814 shares of the biotechnology company’s stock after purchasing 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.

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.