22nd Century Group (NASDAQ:XXII) Downgraded by StockNews.com

StockNews.com lowered shares of 22nd Century Group (NASDAQ:XXII) from a hold rating to a sell rating in a research report report published on Monday.

22nd Century Group Trading Down 3.8 %

NASDAQ XXII opened at $0.28 on Monday. 22nd Century Group has a 1-year low of $0.28 and a 1-year high of $27.03. The company has a market capitalization of $2.36 million, a price-to-earnings ratio of 0.00 and a beta of 1.38. The stock’s 50 day moving average is $0.64 and its two-hundred day moving average is $8.51.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) EPS for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%. The company had revenue of $7.95 million during the quarter.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP grew its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the period. Anson Funds Management LP owned 83.28% of 22nd Century Group worth $789,000 at the end of the most recent reporting period. 18.06% of the stock is owned by hedge funds and other institutional investors.

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.