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

by · The Cerbat Gem

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

22nd Century Group Stock Down 6.6 %

Shares of XXII opened at $0.10 on Monday. 22nd Century Group has a 52-week low of $0.09 and a 52-week high of $9.88. The stock has a 50 day moving average price of $0.33 and a 200 day moving average price of $1.07. The company has a market capitalization of $840,808.80, a price-to-earnings ratio of 0.00 and a beta of 1.39.

22nd Century Group (NASDAQ:XXII – Get Free Report) last posted its 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 during the quarter.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP lifted its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter. 18.06% of the stock is owned by institutional investors.

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.

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