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

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

22nd Century Group Trading Down 11.6 %

Shares of NASDAQ:XXII opened at $4.73 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $219.28 million, a PE ratio of -0.21 and a beta of 1.50. 22nd Century Group has a 12-month low of $3.90 and a 12-month high of $581.85. The business’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $52.86.

22nd Century Group (NASDAQ:XXII) last announced its earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) EPS for the quarter. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The firm had revenue of $5.95 million during the quarter.

Hedge Funds Weigh In On 22nd Century Group

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

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.