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

StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXIIFree Report) in a research note published on Monday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

22nd Century Group stock opened at $0.16 on Monday. The company’s fifty day moving average price is $0.36 and its 200 day moving average price is $1.30. 22nd Century Group has a 1 year low of $0.14 and a 1 year high of $9.88. The stock has a market capitalization of $1.31 million, a P/E ratio of 0.00 and a beta of 1.39.

22nd Century Group (NASDAQ:XXIIGet Free Report) last announced its quarterly earnings data 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 lifted its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXIIFree Report) by 106.9% during the 1st quarter, according to the company in its most recent 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 period. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 18.06% of the company’s stock.

About 22nd Century Group

(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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