22nd Century Group (NASDAQ:XXII) Stock Rating Upgraded by StockNews.com

22nd Century Group (NASDAQ:XXII) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 22nd Century Group in a research note on Saturday, March 22nd.

22nd Century Group Stock Up 4.9 %

Shares of 22nd Century Group stock traded up $0.07 during midday trading on Tuesday, hitting $1.51. The company’s stock had a trading volume of 40,771 shares, compared to its average volume of 253,371. The firm has a market capitalization of $3.58 million, a P/E ratio of 0.00 and a beta of 1.67. 22nd Century Group has a 1-year low of $1.32 and a 1-year high of $581.85. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.59. The stock has a 50-day simple moving average of $2.77 and a 200-day simple moving average of $10.62.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP bought a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group as of its most recent filing with the Securities and Exchange Commission (SEC). 18.06% of the stock is owned by hedge funds and other institutional investors.

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.