22nd Century Group (NASDAQ:XXII) Coverage Initiated at StockNews.com

Posted by ABMN Staff on Dec 2nd, 2024

StockNews.com initiated coverage on shares of 22nd Century Group (NASDAQ:XXII – Free Report) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the biotechnology company’s stock.

22nd Century Group Price Performance

Shares of XXII opened at $0.10 on Friday. 22nd Century Group has a fifty-two week low of $0.08 and a fifty-two week high of $5.28. The company has a market capitalization of $4.61 million, a price-to-earnings ratio of 0.00 and a beta of 1.45. The firm has a 50-day simple moving average of $0.14 and a 200-day simple moving average of $0.51. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.09.

22nd Century Group (NASDAQ:XXII – Get Free Report) last announced its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share for the quarter. The business had revenue of $5.95 million for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in 22nd Century Group stock. Anson Funds Management LP purchased a new position in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned approximately 6.77% of 22nd Century Group as of its most recent SEC filing. Institutional investors and hedge funds own 18.06% of the company’s stock.

22nd Century Group Company Profile

(Get Free Report)

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.