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

Equities researchers at StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXII) in a research report issued on Wednesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

NASDAQ XXII opened at $0.10 on Wednesday. 22nd Century Group has a 12 month low of $0.09 and a 12 month high of $6.56. The stock’s fifty day moving average price is $0.19 and its 200-day moving average price is $0.64. The stock has a market cap of $4.66 million, a P/E ratio of 0.00 and a beta of 1.45.

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

Institutional Investors Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. 18.06% of the stock is currently owned by institutional investors and hedge funds.

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.