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

Investment analysts at StockNews.com started coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research note issued to investors on Thursday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Price Performance

XXII opened at $0.10 on Thursday. The stock has a market capitalization of $3.24 million, a price-to-earnings ratio of 0.00 and a beta of 1.45. The business has a fifty day moving average price of $0.20 and a 200 day moving average price of $0.69. 22nd Century Group has a 12 month low of $0.09 and a 12 month high of $7.42.

22nd Century Group (NASDAQ:XXII) last announced its quarterly 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 business 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 lifted its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 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.