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

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

22nd Century Group Stock Up 5.1 %

NASDAQ:XXII opened at $0.11 on Friday. The stock’s 50 day moving average price is $0.27 and its 200 day moving average price is $0.78. The company has a market capitalization of $932,850.00, a PE ratio of 0.00 and a beta of 1.39. 22nd Century Group has a 52-week low of $0.09 and a 52-week high of $8.63.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results 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 firm had revenue of $7.95 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP raised its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. Institutional investors 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.