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

Posted by Erica Schwartz on Dec 4th, 2024

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

22nd Century Group Stock Performance

Shares of NASDAQ XXII opened at $0.09 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. 22nd Century Group has a 12-month low of $0.08 and a 12-month high of $4.31. The firm has a market capitalization of $4.25 million, a price-to-earnings ratio of 0.00 and a beta of 1.50. The firm has a 50 day moving average of $0.13 and a 200 day moving average of $0.49.

22nd Century Group (NASDAQ:XXII – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter. 22nd Century Group had a negative net margin of 144.09% and a negative return on equity of 380.39%. The company had revenue of $5.95 million for 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 stake in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,140,452 shares of the biotechnology company’s stock, valued at approximately $691,000. Anson Funds Management LP owned 6.77% of 22nd Century Group as of its most recent SEC filing. 18.06% of the stock is currently owned by hedge funds and other institutional investors.

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.