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

by · The Markets Daily

StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII – Free Report) in a research report released on Friday. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Trading Up 5.4 %

Shares of 22nd Century Group stock opened at $0.11 on Friday. The stock has a 50-day moving average price of $0.22 and a 200 day moving average price of $0.72. The company has a market cap of $3.31 million, a P/E ratio of 0.00 and a beta of 1.45. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $8.63.

22nd Century Group (NASDAQ:XXII – Get Free Report) last posted its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 275.12%. The company had revenue of $7.95 million for the quarter.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its holdings in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 filing with the SEC. Institutional investors and hedge funds own 18.06% of the company’s stock.

22nd Century Group Company Profile

(Get Free Report)

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.

Recommended Stories