22nd Century Group (NASDAQ:XXII) Earns Sell Rating from Analysts at StockNews.com

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

22nd Century Group Trading Down 8.6 %

NASDAQ XXII opened at $0.17 on Tuesday. 22nd Century Group has a 1 year low of $0.15 and a 1 year high of $11.04. The company has a market cap of $1.38 million, a PE ratio of 0.00 and a beta of 1.39. The stock’s 50-day moving average price is $0.38 and its two-hundred day moving average price is $2.19.

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

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP lifted its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 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.

22nd Century Group Company Profile

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.