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 report released on Friday. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Up 10.7 %

NASDAQ:XXII opened at $0.29 on Friday. The company has a market cap of $2.39 million, a P/E ratio of 0.00 and a beta of 1.41. 22nd Century Group has a twelve month low of $0.24 and a twelve month high of $17.06. The business has a 50 day moving average price of $0.53 and a two-hundred day moving average price of $4.82.

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

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter. 18.06% of the stock is currently owned by institutional investors and hedge funds.

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.