22nd Century Group (NASDAQ:XXII) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

Shares of NASDAQ:XXII opened at $0.15 on Monday. The firm has a market cap of $1.24 million, a price-to-earnings ratio of 0.00 and a beta of 1.39. 22nd Century Group has a fifty-two week low of $0.15 and a fifty-two week high of $10.67. The firm has a fifty day moving average price of $0.37 and a 200 day moving average price of $1.51.

22nd Century Group (NASDAQ:XXII) last announced its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) 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 during the quarter.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission. 18.06% of the stock is currently owned by institutional investors and hedge funds.

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.