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

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

22nd Century Group Stock Down 8.6 %

22nd Century Group stock opened at $0.17 on Tuesday. 22nd Century Group has a 52-week low of $0.15 and a 52-week high of $11.04. The firm has a market capitalization of $1.38 million, a price-to-earnings ratio of 0.00 and a beta of 1.39. The firm has a 50-day moving average price of $0.38 and a two-hundred day moving average price of $2.19.

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

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP boosted its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 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.