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

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

22nd Century Group Stock Performance

XXII stock opened at $0.09 on Friday. The stock’s 50 day simple moving average is $0.12 and its 200 day simple moving average is $0.46. 22nd Century Group has a 12-month low of $0.08 and a 12-month high of $4.31. The firm has a market cap of $3.94 million, a P/E ratio of 0.00 and a beta of 1.50. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59.

22nd Century Group (NASDAQ:XXII) last issued 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.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP acquired a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 6.77% of 22nd Century Group at the end of the most recent reporting period. Institutional investors and hedge funds own 18.06% of the company’s stock.

About 22nd Century Group

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.