22nd Century Group (NASDAQ:XXII) Research Coverage Started at StockNews.com

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

22nd Century Group Stock Down 33.2 %

Shares of XXII stock opened at $0.05 on Friday. 22nd Century Group has a 1 year low of $0.04 and a 1 year high of $4.31. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09. The business’s fifty day moving average is $0.11 and its 200-day moving average is $0.41. The stock has a market cap of $2.28 million, a PE ratio of 0.00 and a beta of 1.50.

22nd Century Group shares are going to reverse split on the morning of Tuesday, December 17th. The 1-135 reverse split was announced on Friday, December 13th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 16th.

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

Institutional Trading of 22nd Century Group

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP purchased a new position in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group at the end of the most recent reporting period. Hedge funds and other 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.