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

Equities researchers at StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXII) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

22nd Century Group Trading Up 2.5 %

XXII opened at $5.26 on Wednesday. 22nd Century Group has a 1-year low of $3.90 and a 1-year high of $581.85. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The firm has a market capitalization of $1.80 million, a price-to-earnings ratio of -0.24 and a beta of 1.50. The company’s 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $49.17.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) EPS for the quarter. The firm had revenue of $5.95 million for the quarter. 22nd Century Group had a negative net margin of 144.09% and a negative return on equity of 380.39%.

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP bought a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group at the end of the most recent quarter. 18.06% of the stock is currently owned by institutional investors and hedge funds.

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.