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

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

22nd Century Group Price Performance

22nd Century Group stock opened at $0.09 on Wednesday. The company has a market capitalization of $4.27 million, a PE ratio of 0.00 and a beta of 1.45. 22nd Century Group has a 12-month low of $0.09 and a 12-month high of $5.69. The firm’s fifty day moving average is $0.18 and its 200 day moving average is $0.62. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 1.59.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share (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 for the quarter.

Institutional Trading of 22nd Century Group

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP acquired a new stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned about 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.