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

Posted by Casey Walker on Dec 27th, 2024

Equities researchers at StockNews.com assumed coverage on shares of 22nd Century Group (NASDAQ:XXII – Get Free Report) in a research report issued on Wednesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

22nd Century Group Price Performance

XXII stock opened at $5.26 on Wednesday. The stock’s 50 day moving average is $11.79 and its two-hundred day moving average is $49.17. The company has a market capitalization of $1.80 million, a PE ratio of -0.24 and a beta of 1.50. 22nd Century Group has a 52-week low of $3.90 and a 52-week high of $581.85. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.59.

22nd Century Group (NASDAQ:XXII – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($72.90) EPS for the quarter. The firm 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

A hedge fund recently bought a new stake in 22nd Century Group stock. Anson Funds Management LP bought a new position in 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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. 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.