22nd Century Group (NASDAQ:XXII) Receives New Coverage from Analysts at StockNews.com

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

22nd Century Group Trading Down 14.0 %

Shares of NASDAQ XXII opened at $0.28 on Friday. 22nd Century Group has a twelve month low of $0.26 and a twelve month high of $21.12. The company has a market capitalization of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. The business has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $6.21.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is owned by hedge funds and other institutional investors.

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.