Weiss Ratings Reaffirms “Sell (E+)” Rating for 22nd Century Group (NASDAQ:XXII)

22nd Century Group (NASDAQ:XXII)‘s stock had its “sell (e+)” rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

22nd Century Group Stock Down 2.3%

Shares of NASDAQ XXII opened at $8.13 on Friday. The business’s 50 day moving average price is $18.50 and its two-hundred day moving average price is $59.16. The company has a market cap of $4.15 million, a PE ratio of 0.00 and a beta of 1.93. 22nd Century Group has a twelve month low of $6.28 and a twelve month high of $2,837.04.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($43.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($25.30) by ($18.17). The business had revenue of $5.96 million for the quarter, compared to analyst estimates of $4.70 million. 22nd Century Group had a negative return on equity of 524.68% and a negative net margin of 57.62%.

Hedge Funds Weigh In On 22nd Century Group

An institutional investor recently raised its position in 22nd Century Group stock. Anson Funds Management LP raised its position in shares of 22nd Century Group, Inc (NASDAQ:XXII) by 255.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,094 shares of the biotechnology company’s stock after acquiring an additional 126,536 shares during the period. Anson Funds Management LP owned approximately 7.43% of 22nd Century Group worth $254,000 at the end of the most recent quarter. 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.