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

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

22nd Century Group Price Performance

Shares of XXII opened at $0.09 on Wednesday. 22nd Century Group has a fifty-two week low of $0.09 and a fifty-two week high of $5.69. The firm’s 50-day simple moving average is $0.18 and its two-hundred day simple moving average is $0.61. The stock has a market cap of $4.27 million, a PE ratio of 0.00 and a beta of 1.45. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.67 and a current ratio of 1.09.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) EPS for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The company had revenue of $5.95 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first 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 acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is currently owned by institutional investors and hedge funds.

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.