22nd Century Group (NASDAQ:XXII) Now Covered by Analysts at StockNews.com

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

22nd Century Group Stock Performance

Shares of XXII stock opened at $0.05 on Friday. 22nd Century Group has a fifty-two week low of $0.04 and a fifty-two week high of $4.31. The stock’s 50-day moving average is $0.11 and its two-hundred day moving average is $0.41. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The firm has a market cap of $2.28 million, a P/E ratio of 0.00 and a beta of 1.50.

22nd Century Group’s stock is going to reverse split before the market opens on Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 16th.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share for the quarter. The business 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 Trading of 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP acquired a new position in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 at the end of the most recent quarter. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

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.