Cowen lifts 22nd Century Group Inc. [XXII] price estimate. Who else is bullish?



22nd Century Group Inc. [NASDAQ: XXII] slipped around -0.27 points on Wednesday, while shares priced at $2.66 at the close of the session, down -9.04%. The company report on January 3, 2022 that 22nd Century Group to Participate in Fireside Chat Events with Alliance Global Partners Equity Analyst Aaron Grey and Cowen Equity Analyst Vivien Azer on Wednesday, January 5, 2022.

22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco, and improving health and wellness through modern plant science, announced today that Company management will participate in two fireside chat events on Wednesday, January 5.

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Aaron Grey, Head of Consumer Research at Alliance Global Partners, will host an event at 10:30 a.m. Eastern Time. .

22nd Century Group Inc. stock is now -13.75% down from its year-to-date (YTD) trading value. XXII Stock saw the intraday high of $2.93 and lowest of $2.58 per share. The company’s 52-week high price is 6.07, which means current price is +3.10% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 3.41M shares, XXII reached a trading volume of 5058894 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 22nd Century Group Inc. [XXII]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for XXII shares is $6.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on XXII stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for 22nd Century Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 23, 2021. While these analysts kept the previous recommendation, Chardan Capital Markets dropped their target price from $3.50 to $11.50. The new note on the price target was released on October 16, 2017, representing the official price target for 22nd Century Group Inc. stock. Previously, the target price had yet another drop from $4.50 to $3.50, while Chardan Capital Markets kept a Buy rating on XXII stock.

The Average True Range (ATR) for 22nd Century Group Inc. is set at 0.27, with the Price to Sales ratio for XXII stock in the period of the last 12 months amounting to 14.45. The Price to Book ratio for the last quarter was 5.44, with the Price to Cash per share for the same quarter was set at 0.34.

How has XXII stock performed recently?

22nd Century Group Inc. [XXII] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.34. With this latest performance, XXII shares gained by 13.40% in over the last four-week period, additionally sinking by -29.68% over the last 6 months – not to mention a rise of 7.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for XXII stock in for the last two-week period is set at 48.08, with the RSI for the last a single of trading hit 45.10, and the three-weeks RSI is set at 48.35 for 22nd Century Group Inc. [XXII]. The present Moving Average for the last 50 days of trading for this stock 2.74, while it was recorded at 2.96 for the last single week of trading, and 3.48 for the last 200 days.

22nd Century Group Inc. [XXII]: Deeper insight into the fundamentals

22nd Century Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.50 and a Current Ratio set at 8.90.

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Insider trade positions for 22nd Century Group Inc. [XXII]

There are presently around $143 million, or 37.30% of XXII stock, in the hands of institutional investors. The top three institutional holders of XXII stocks are: ETF MANAGERS GROUP, LLC with ownership of 12,885,652, which is approximately 7.359% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 9,951,087 shares of the stock with an approximate value of $29.16 million in XXII stocks shares; and VANGUARD GROUP INC, currently with $26.46 million in XXII stock with ownership of nearly 18.645% of the company’s market capitalization.

Positions in 22nd Century Group Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 70 institutional holders increased their position in 22nd Century Group Inc. [NASDAQ:XXII] by around 4,614,158 shares. Additionally, 35 investors decreased positions by around 3,062,723 shares, while 40 investors held positions by with 41,267,594 shares. The mentioned changes placed institutional holdings at 48,944,475 shares, according to the latest SEC report filing. XXII stock had 22 new institutional investments in for a total of 802,871 shares, while 12 institutional investors sold positions of 1,111,440 shares during the same period.