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

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

22nd Century Group Stock Performance

Shares of XXII opened at $0.10 on Friday. The stock has a market capitalization of $859,051.20, a price-to-earnings ratio of 0.00 and a beta of 1.39. The firm has a fifty day simple moving average of $0.24 and a 200 day simple moving average of $0.74. 22nd Century Group has a 12 month low of $0.09 and a 12 month high of $8.63.

22nd Century Group (NASDAQ:XXII) last released 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 net margin of 275.12% and a negative return on equity of 380.39%. The firm had revenue of $7.95 million during the quarter.

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the SEC. 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.