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

StockNews.com began coverage on shares of 22nd Century Group (NASDAQ:XXII) in a report issued on Sunday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

NASDAQ:XXII opened at $0.28 on Friday. The stock has a 50-day simple moving average of $0.60 and a 200 day simple moving average of $7.16. 22nd Century Group has a 52-week low of $0.26 and a 52-week high of $23.76. The company has a market cap of $2.63 million, a PE ratio of 0.00 and a beta of 1.41.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The business had revenue of $7.95 million for 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 grew its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 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.