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

Posted by Maddie Sorensen on Dec 10th, 2024

StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXII – Free Report) in a research note published on Saturday morning. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Trading Down 1.2 %

Shares of 22nd Century Group stock opened at $0.08 on Friday. The firm’s 50-day moving average price is $0.12 and its two-hundred day moving average price is $0.44. The company has a market capitalization of $3.89 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.59. 22nd Century Group has a 12-month low of $0.08 and a 12-month high of $4.31.

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

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP purchased a new position in 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group at the end of the most recent reporting period. 18.06% of the stock is owned by institutional investors and hedge funds.

About 22nd Century Group

(Get Free Report)

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.