StockNews.com Initiates Coverage on 22nd Century Group (NASDAQ:XXII)

Analysts at StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII) in a report issued on Wednesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Stock Down 5.1 %

XXII opened at $0.09 on Wednesday. 22nd Century Group has a twelve month low of $0.09 and a twelve month high of $6.56. The company’s 50-day moving average price is $0.18 and its two-hundred day moving average price is $0.63. The stock has a market cap of $4.40 million, a price-to-earnings ratio of 0.00 and a beta of 1.45.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) EPS for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The company had revenue of $5.95 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.