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

by · The Markets Daily

StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII – Free Report) in a research note published on Sunday morning. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

NASDAQ XXII opened at $0.12 on Friday. The business’s 50 day moving average price is $0.29 and its 200-day moving average price is $0.81. 22nd Century Group has a fifty-two week low of $0.09 and a fifty-two week high of $8.81. The company has a market cap of $962,701.20, a P/E ratio of 0.00 and a beta of 1.39.

22nd Century Group (NASDAQ:XXII – Get Free Report) last announced its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share 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 Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% in the first 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 acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. Hedge funds and other 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.

Featured Articles