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

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

22nd Century Group Stock Up 20.3 %

NASDAQ XXII opened at $0.11 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.09 and a quick ratio of 0.93. The company has a market capitalization of $5.03 million, a P/E ratio of 0.00 and a beta of 1.45. 22nd Century Group has a 12 month low of $0.08 and a 12 month high of $5.28. The company’s 50 day simple moving average is $0.15 and its 200 day simple moving average is $0.54.

22nd Century Group (NASDAQ:XXII) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter. The company 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 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 stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period. 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.