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

StockNews.com downgraded the stock 22nd Century Group (NASDAQ:XXII – Free Report) from a hold rating to a sell rating in a research report on Tuesday morning.

22nd Century Group trading up 3.4%

Shares of NASDAQ XXII opened at $0.46 on Tuesday. The firm has a market cap of $3.81 million, a PE ratio of 0.00 and a beta of 1.38. 22nd Century Group has a 1 year low of $0.43 and a 1 year high of $31.04. The company’s 50-day moving average is $0.68 and its 200-day moving average is $9.93.

Institutional inputs and outputs

An institutional investor recently raised its position in shares of 22nd Century Group. Anson Funds Management LP grew its position in shares of 22nd Century Group, Inc. (NASDAQ:XXII – Free Report) by 106.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,577,814 shares of the biotechnology company’s stock after acquiring an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 as of its most recent SEC filing. Institutional investors own 18.06% of the company’s shares.

22nd Century Group Company Profile

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22nd Century Group, Inc, a tobacco products company, is engaged in the sale and distribution of its own novel reduced nicotine tobacco products. The company offers low-nicotine tobacco plants and low-nicotine combustible cigarette products. It also provides contract manufacturing services for conventional combustible tobacco products for third-party brands.

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