22nd Century Group (NASDAQ:XXII) Now Covered by StockNews.com

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

22nd Century Group Price Performance

NASDAQ XXII traded down $0.00 on Thursday, reaching $0.11. The company had a trading volume of 1,800,466 shares, compared to its average volume of 2,684,957. The firm has a market cap of $5.27 million, a price-to-earnings ratio of 0.00 and a beta of 1.45. 22nd Century Group has a fifty-two week low of $0.09 and a fifty-two week high of $6.69. The business has a 50 day moving average of $0.20 and a two-hundred day moving average of $0.69.

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

Hedge Funds 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 shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to its most recent filing 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 about 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. 18.06% of the stock is currently 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.