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

StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research report sent to investors on Sunday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

Shares of NASDAQ:XXII opened at $0.33 on Friday. The business has a 50-day moving average price of $0.61 and a 200 day moving average price of $7.21. The company has a market capitalization of $3.05 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. 22nd Century Group has a 12-month low of $0.26 and a 12-month high of $23.76.

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 business 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 grew its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 approximately 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.