22nd Century Group (NASDAQ:XXII) Posts Quarterly Earnings Results

22nd Century Group (NASDAQ:XXII) released its earnings results on Tuesday. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, reports. 22nd Century Group had a negative return on equity of 380.39% and a negative net margin of 144.09%. The business had revenue of $5.95 million for the quarter.

22nd Century Group Price Performance

Shares of NASDAQ XXII opened at $0.10 on Thursday. The business has a 50-day moving average of $0.18 and a two-hundred day moving average of $0.63. 22nd Century Group has a 1 year low of $0.09 and a 1 year high of $6.56.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of 22nd Century Group in a report on Wednesday. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its stake in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,577,814 shares of the biotechnology company’s stock after buying an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned approximately 83.28% of 22nd Century Group worth $789,000 as of its most recent filing with the SEC. Institutional investors own 18.06% of the company’s stock.

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.