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

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

22nd Century Group Price Performance

Shares of 22nd Century Group stock opened at $0.26 on Friday. The business has a 50 day moving average price of $0.54 and a 200 day moving average price of $5.07. The company has a market capitalization of $2.16 million, a P/E ratio of 0.00 and a beta of 1.41. 22nd Century Group has a 1 year low of $0.24 and a 1 year high of $18.24.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) 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%.

Institutional Trading of 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP increased its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the SEC. 18.06% of the stock is owned by hedge funds and other 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.