A company insider recently sold 370,789 shares of 22nd Century Group Inc. [XXII]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 22nd Century Group Inc. shares valued at $500,565 were sold by ZERCHER MICHAEL on Aug 31. At $1.35 per share, ZERCHER MICHAEL sold 370,789 shares. The insider’s holdings dropped to 904,938 shares worth approximately $0.9 million following the completion of this transaction.

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Also, FRANZINO JOHN sold 20,324 shares, netting a total of over 34,443 in proceeds. Following the sale of shares at $1.69 each, the insider now holds 405,574 shares.

Before that, ZERCHER MICHAEL had sold 23,147 shares from its account. In a trade valued at $50,037, the President and COO traded 22nd Century Group Inc. shares for $2.16 each. Upon closing the transaction, the insider’s holdings decreased to 23,147 shares, worth approximately $1.05 million.

As published in their initiating research note from Alliance Global Partners on July 21, 2022, 22nd Century Group Inc. [XXII] has been a Buy and the price target has been revised to $5. This represents a 80.2% premium over Thursday’s closing price. Analysts at Craig Hallum started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of March 08, 2022, ROTH Capital has initiated its “Buy” rating for XXII. Earlier on July 23, 2021, Cowen initiated its rating. Their recommendation was “an Outperform” for XXII stock.

Analyzing XXII’s Price Performance

On Thursday, 22nd Century Group Inc. [NASDAQ: XXII] plunged -3.50% to $0.99. The stock’s lowest price that day was $0.9731, but it reached a high of $1.0299 in the same session. During the last five days, there has been a drop of approximately -21.12%. Over the course of the year, 22nd Century Group Inc. shares have dropped approximately -67.83%. Shares of the company reached a 52-week high of $3.1300 on 01/03/22 and a 52-week low of $0.9731 on 09/22/22. A 50-day SMA is recorded $1.5690, while a 200-day SMA reached $2.0297. Nevertheless, trading volume fell to 1.49 million shares from 2.5 million shares the previous day.

Support And Resistance Levels for 22nd Century Group Inc. (XXII)

According to the 24-hour chart, there is a support level at 0.9680, which, if violated, would cause prices to drop to 0.9422. In the upper region, resistance lies at 1.0248. The next price resistance is at 1.0558. RSI (Relative Strength Index) is 24.38 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.2178, which suggests the price will decrease in the coming days. Percent R is at 95.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is 22nd Century Group Inc. subject to short interest?

Stocks of 22nd Century Group Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.14 million shares to 15.03 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 14.89 million shares. A jump of 0.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.14 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.14.

Which companies own the most shares of 22nd Century Group Inc. (XXII)?

According to BlackRock Fund Advisors filings, the company currently owns 9,166,514 shares, which is about 4.27% of the total XXII shares outstanding. The investor’s shares have plunged by -99,518 from its previous 13-F filing of 9266032.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $11,453,966. ETF Managers Group LLC reduced a -27.78% interest valued at $8.53 million while SSgA Funds Management, Inc. sold a -299,254 stake. A total of 78,215 shares of 22nd Century Group Inc. were sold by Geode Capital Management LLC during the quarter, and -30,991 were sold by Northern Trust Investments, Inc.. In its current portfolio, Horizons ETFs Management holds 1,205,321 shares valued at $1.62 million.

In terms of 22nd Century Group Inc. share price expectations, FactSet research, analysts set an average price target of $5.90 in the next 12 months, up nearly 385.44% from the previous closing price of $1.03. Analysts anticipate 22nd Century Group Inc. stock to reach $8.50 by 2022, with the lowest price target being $5.00. In spite of this, 5 analysts ranked 22nd Century Group Inc. stock as a Buy at the end of 2022. On October 16, 2017, Chardan Capital Markets assigned a price target of “a Buy” to the stock and reiterated coverage with a $11.50.


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