The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $0.78 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.
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 82.8% 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 Stock Performance
On Thursday, 22nd Century Group Inc. [NASDAQ: XXII] plunged -1.05% to $0.86. The stock’s lowest price that day was $0.835, but it reached a high of $0.90 in the same session. During the last five days, there has been a drop of approximately -9.73%. Over the course of the year, 22nd Century Group Inc. shares have dropped approximately -7.09%. Shares of the company reached a 52-week high of $1.2650 on 01/18/23 and a 52-week low of $0.8350 on 03/02/23. A 50-day SMA is recorded $0.9863, while a 200-day SMA reached $1.3622. Nevertheless, trading volume fell to 1.5 million shares from 1.01 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 0.8268, which, if violated, would cause prices to drop to 0.7984. In the upper region, resistance lies at 0.8918. The next price resistance is at 0.9284. RSI (Relative Strength Index) is 31.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0685, which suggests the price will decrease in the coming days. Percent R is at 90.60%, 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 steep in short interest on Jan 12, 2023 dropping by -1.14 million shares to 15.97 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 17.11 million shares. A decline of -7.14% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 15.28 of the overall float, the days-to-cover ratio (short ratio) decline to 15.28.
Which companies own the most shares of 22nd Century Group Inc. (XXII)?
According to The Vanguard Group, Inc. filings, the company currently owns 10,025,504 shares, which is about 4.66% of the total XXII shares outstanding. The investor’s shares have plunged by -128,918 from its previous 13-F filing of 10154422.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $10,979,510. Geode Capital Management LLC acquire a 2.51% interest valued at $3.79 million while SSgA Funds Management, Inc. purchased a 4,386 stake. A total of -4,772,755 shares of 22nd Century Group Inc. were bought by ETF Managers Group LLC during the quarter, and 61,790 were bought by Northern Trust Investments, Inc. In its current portfolio, HighTower Advisors LLC holds 1,195,156 shares valued at $1.31 million.
In terms of 22nd Century Group Inc. share price expectations, FactSet research, analysts set an average price target of $5.50 in the next 12 months, up nearly 481.4% from the previous closing price of $0.86. Analysts anticipate 22nd Century Group Inc. stock to reach $8.50 by 2023, with the lowest price target being $4.00. In spite of this, 5 analysts ranked 22nd Century Group Inc. stock as a Buy at the end of 2023. On October 16, 2017, Chardan Capital Markets assigned a price target of “a Buy” to the stock and reiterated coverage with a $11.50.