22nd Century Group (NASDAQ:XXII) Earns Sell Rating from Analysts at StockNews.com

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

22nd Century Group Stock Down 6.5 %

Shares of XXII opened at $0.32 on Friday. The stock has a market capitalization of $2.97 million, a P/E ratio of 0.00 and a beta of 1.41. 22nd Century Group has a twelve month low of $0.26 and a twelve month high of $21.12. The company has a 50 day moving average of $0.59 and a 200-day moving average of $6.46.

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

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP raised its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 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.