22nd Century Group (NASDAQ:XXII) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research note issued to investors on Wednesday morning. 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 company has a market capitalization of $1.57 million, a price-to-earnings ratio of 0.00 and a beta of 1.39. The company’s 50-day simple moving average is $0.42 and its two-hundred day simple moving average is $3.14. 22nd Century Group has a one year low of $0.15 and a one year high of $11.84.

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 firm had revenue of $7.95 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the period. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

22nd Century Group Company Profile

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.