StockNews.com Lowers 22nd Century Group (NASDAQ:XXII) to Sell

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

22nd Century Group Stock Performance

NASDAQ XXII opened at $0.30 on Monday. The stock has a fifty day moving average of $0.65 and a 200-day moving average of $8.57. The stock has a market capitalization of $2.45 million, a P/E ratio of 0.00 and a beta of 1.38. 22nd Century Group has a 52 week low of $0.28 and a 52 week high of $27.03.

Institutional Investors Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP increased its stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the period. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. 18.06% of the stock is currently owned by 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.