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

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

22nd Century Group Trading Down 9.8 %

Shares of XXII stock opened at $0.23 on Thursday. The stock has a 50 day moving average of $0.48 and a 200 day moving average of $4.07. The stock has a market cap of $1.89 million, a P/E ratio of 0.00 and a beta of 1.41. 22nd Century Group has a twelve month low of $0.22 and a twelve month high of $16.00.

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

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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. 18.06% of the stock is owned by 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.