StockNews.com Begins Coverage on 22nd Century Group (NASDAQ:XXII)

by · The Markets Daily

Analysts at StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII – Get Free Report) in a note issued to investors on Sunday. The firm set a “sell” rating on the biotechnology company’s stock.

22nd Century Group Stock Performance

XXII opened at $0.10 on Friday. The company’s 50 day moving average is $0.14 and its 200 day moving average is $0.50. 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 cap of $4.64 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. 22nd Century Group has a 12-month low of $0.08 and a 12-month high of $4.31.

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

Institutional Investors 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 – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and 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 filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 18.06% of the company’s stock.

About 22nd Century Group

(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.

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