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

22nd Century Group (NASDAQ:XXII)‘s stock had its “sell (e+)” rating reiterated by research analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

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

22nd Century Group Stock Performance

Shares of XXII stock opened at $2.94 on Tuesday. The stock’s 50 day simple moving average is $10.14 and its 200 day simple moving average is $38.16. 22nd Century Group has a twelve month low of $2.86 and a twelve month high of $2,328.75. The company has a market capitalization of $1.50 million, a price-to-earnings ratio of 0.00 and a beta of 1.78.

22nd Century Group (NASDAQ:XXII) last issued its quarterly earnings data 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). 22nd Century Group had a negative net margin of 57.62% and a negative return on equity of 524.68%. The company had revenue of $5.96 million during the quarter, compared to the consensus estimate of $4.70 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in 22nd Century Group, Inc (NASDAQ:XXII) by 255.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,094 shares of the biotechnology company’s stock after buying an additional 126,536 shares during the period. Anson Funds Management LP owned approximately 7.47% of 22nd Century Group worth $254,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.06% of the company’s stock.

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.