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

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

22nd Century Group Stock Up 20.3 %

Shares of NASDAQ:XXII opened at $0.11 on Monday. 22nd Century Group has a 1 year low of $0.08 and a 1 year high of $5.28. The stock has a 50-day simple moving average of $0.15 and a 200-day simple moving average of $0.54. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09. The stock has a market capitalization of $5.03 million, a P/E ratio of 0.00 and a beta of 1.45.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP bought a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.