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

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

22nd Century Group Stock Performance

NASDAQ:XXII opened at $0.19 on Wednesday. The firm has a 50-day simple moving average of $0.44 and a 200-day simple moving average of $3.35. 22nd Century Group has a one year low of $0.15 and a one year high of $11.84. The firm has a market cap of $4.02 million, a P/E ratio of 0.00 and a beta of 1.39.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. The business 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%.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP raised its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 about 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.