22nd Century Group (NASDAQ:XXII) Receives New Coverage from Analysts at StockNews.com

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

22nd Century Group Stock Down 2.9 %

NASDAQ XXII opened at $0.27 on Thursday. 22nd Century Group has a 52 week low of $0.24 and a 52 week high of $16.48. The firm has a market capitalization of $5.80 million, a P/E ratio of 0.00 and a beta of 1.41. The company has a 50-day moving average price of $0.50 and a 200-day moving average price of $4.54.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. The business had revenue of $7.95 million for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 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.