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

StockNews.com started coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the biotechnology company’s stock.

22nd Century Group Stock Up 6.0 %

Shares of 22nd Century Group stock opened at $5.13 on Wednesday. 22nd Century Group has a 52-week low of $3.90 and a 52-week high of $581.85. The company has a 50 day moving average of $11.96 and a 200 day moving average of $49.48. 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 company has a market capitalization of $1.76 million, a P/E ratio of -0.23 and a beta of 1.50.

22nd Century Group (NASDAQ:XXII) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($72.90) earnings per share (EPS) for the quarter. The firm had revenue of $5.95 million for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new stake in 22nd Century Group, Inc. (NASDAQ:XXII) in the third quarter, according to its most recent disclosure 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 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.