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

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

22nd Century Group Stock Up 5.1 %

Shares of XXII opened at $0.11 on Friday. 22nd Century Group has a twelve month low of $0.09 and a twelve month high of $8.63. The stock has a market cap of $932,850.00, a PE ratio of 0.00 and a beta of 1.39. The business’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.78.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the period. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is owned by hedge funds and other institutional investors.

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.