-$0.06 Earnings Per Share Expected for 22nd Century Group, Inc. (NASDAQ:XXII) This Quarter

Analysts expect 22nd Century Group, Inc. (NASDAQ:XXIIGet Rating) to post earnings per share of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for 22nd Century Group’s earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.06). 22nd Century Group reported earnings of ($0.03) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 100%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that 22nd Century Group will report full year earnings of ($0.21) per share for the current year, with EPS estimates ranging from ($0.22) to ($0.19). For the next year, analysts anticipate that the company will post earnings of ($0.20) per share, with EPS estimates ranging from ($0.21) to ($0.19). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for 22nd Century Group.

22nd Century Group (NASDAQ:XXIIGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. 22nd Century Group had a negative net margin of 109.97% and a negative return on equity of 40.71%. During the same period last year, the firm posted ($0.03) earnings per share.

A number of research analysts have commented on the stock. Roth Capital began coverage on shares of 22nd Century Group in a research report on Tuesday, March 8th. They issued a “buy” rating and a $6.00 target price on the stock. Zacks Investment Research lowered shares of 22nd Century Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th.

Several hedge funds and other institutional investors have recently made changes to their positions in XXII. Mercer Global Advisors Inc. ADV acquired a new position in 22nd Century Group in the third quarter worth about $30,000. Walleye Capital LLC acquired a new position in shares of 22nd Century Group during the fourth quarter worth approximately $32,000. Private Advisor Group LLC acquired a new position in shares of 22nd Century Group during the fourth quarter worth approximately $32,000. AE Wealth Management LLC bought a new stake in 22nd Century Group during the first quarter worth approximately $31,000. Finally, Capital Investment Advisory Services LLC bought a new stake in 22nd Century Group during the fourth quarter worth approximately $42,000. 28.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of XXII stock traded down $0.07 on Tuesday, hitting $1.53. 10,952 shares of the stock traded hands, compared to its average volume of 1,890,427. The company’s 50-day moving average price is $2.15. The company has a market capitalization of $250.92 million, a PE ratio of -6.67 and a beta of 2.02. 22nd Century Group has a twelve month low of $1.57 and a twelve month high of $5.25.

22nd Century Group Company Profile (Get Rating)

22nd Century Group, Inc, an agricultural biotechnology company, focuses on tobacco harm reduction, reduced nicotine tobacco, and enhancing health and wellness through plant science for the life science and consumer products industries. It develops very low nicotine content tobacco and cigarette products under the VLN King and VLN Menthol King names; and SPECTRUM research cigarettes for use in independent clinical studies.

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