22nd Century Group (NASDAQ:XXII) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII) in a report released on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Price Performance

Shares of XXII opened at $0.26 on Friday. 22nd Century Group has a one year low of $0.24 and a one year high of $18.24. The company has a 50-day moving average of $0.54 and a two-hundred day moving average of $5.32. The stock has a market cap of $2.41 million, a price-to-earnings ratio of 0.00 and a beta of 1.41.

22nd Century Group (NASDAQ:XXII) last announced 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 Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,577,814 shares of the biotechnology company’s stock after purchasing 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 SEC. 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.