StockNews.com Begins Coverage on 22nd Century Group (NASDAQ:XXII)

Stock analysts at StockNews.com began coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research note issued to investors on Thursday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Stock Down 9.8 %

22nd Century Group stock opened at $0.23 on Thursday. 22nd Century Group has a 12 month low of $0.22 and a 12 month high of $16.00. The stock has a market cap of $1.89 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. The business has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $4.27.

22nd Century Group (NASDAQ:XXII) last issued its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. The firm had revenue of $7.95 million during 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 shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 18.06% of the company’s stock.

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.