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

Posted by Carolyn Dwyer on Nov 8th, 2024

StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXII – Free Report) in a report released on Thursday morning. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

NASDAQ:XXII traded down $0.00 on Thursday, hitting $0.11. The stock had a trading volume of 1,800,466 shares, compared to its average volume of 2,684,957. The stock has a market cap of $5.27 million, a P/E ratio of 0.00 and a beta of 1.45. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $6.69. The firm’s fifty day simple moving average is $0.20 and its two-hundred day simple moving average is $0.69.

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

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the period. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. Institutional investors own 18.06% of the company’s stock.

22nd Century Group Company Profile

(Get Free Report)

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.