Craig Hallum slashes price target on 22nd Century Group Inc. [XXII] – find out why.


22nd Century Group Inc. [NASDAQ: XXII] loss -6.85% or -0.17 points to close at $2.31 with a heavy trading volume of 4175245 shares. The company report on June 22, 2022 that 22nd Century Group (Nasdaq: XXII) Supports Federal Proposal to Require Less Nicotine in All U.S. Cigarettes.

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FDA’s Proposed Rule Draws on Research That Supports Reduced Nicotine Content Cigarettes Are Less Addictive.

22nd Century Group’s FDA MRTP Authorized 95% Reduced Nicotine Cigarette Products Is Already Available to Meet Proposed Policy to Reduce Nicotine in All Cigarettes.

It opened the trading session at $2.49, the shares rose to $2.67 and dropped to $2.30, the range by which the price of stock traded the whole day. The daily chart for XXII points out that the company has recorded -30.21% loss over the past six months. However, it is still -62.68% lower than its most recent low trading price.

If we look at the average trading volume of 1.90M shares, XXII reached to a volume of 4175245 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $6.13 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.

Craig Hallum have made an estimate for 22nd Century Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2022. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on March 08, 2022, representing the official price target for 22nd Century Group Inc. stock. Previously, the target price had yet another raise to $5, while Cowen analysts kept a Outperform rating on XXII stock. On October 16, 2017, analysts increased their price target for XXII shares from 3.50 to 11.50.

The Average True Range (ATR) for 22nd Century Group Inc. is set at 0.24, with the Price to Sales ratio for XXII stock in the period of the last 12 months amounting to 12.16. The Price to Book ratio for the last quarter was 6.42, with the Price to Cash per share for the same quarter was set at 0.22.

Trading performance analysis for XXII stock

22nd Century Group Inc. [XXII] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 41.72. With this latest performance, XXII shares gained by 24.86% in over the last four-week period, additionally sinking by -30.21% over the last 6 months – not to mention a drop of -53.05% 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 60.55, with the RSI for the last a single of trading hit 62.17, and the three-weeks RSI is set at 58.44 for 22nd Century Group Inc. [XXII]. The present Moving Average for the last 50 days of trading for this stock 1.88, while it was recorded at 2.35 for the last single week of trading, and 2.41 for the last 200 days.

22nd Century Group Inc. [XXII]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and 22nd Century Group Inc. [XXII] shares currently have an operating margin of -91.55 and a Gross Margin at +2.65. 22nd Century Group Inc.’s Net Margin is presently recorded at -105.37.

Return on Equity for this stock declined to -59.19, with Return on Assets sitting at -51.09.

22nd Century Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.70 and a Current Ratio set at 6.30.

An analysis of insider ownership at 22nd Century Group Inc. [XXII]

There are presently around $115 million, or 28.40% of XXII stock, in the hands of institutional investors. The top three institutional holders of XXII stocks are: BLACKROCK INC. with ownership of 10,042,370, which is approximately -1.46% of the company’s market cap and around 3.60% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 8,816,841 shares of the stock with an approximate value of $21.87 million in XXII stocks shares; and VANGUARD GROUP INC, currently with $20.0 million in XXII stock with ownership of nearly 0.658% of the company’s market capitalization.

Positions in 22nd Century Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 46 institutional holders increased their position in 22nd Century Group Inc. [NASDAQ:XXII] by around 3,658,285 shares. Additionally, 57 investors decreased positions by around 3,096,951 shares, while 43 investors held positions by with 39,625,677 shares. The mentioned changes placed institutional holdings at 46,380,913 shares, according to the latest SEC report filing. XXII stock had 15 new institutional investments in for a total of 1,189,630 shares, while 16 institutional investors sold positions of 263,758 shares during the same period.