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

22nd Century Group Inc. [NASDAQ: XXII] stock went on an upward path that rose over 6.15% on Thursday, amounting to a one-week price increase of more than 2.99%. The company report on September 7, 2022 that 22nd Century Group (Nasdaq: XXII) Announces Management Updates and Departure of Chief Operating Officer.

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22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company dedicated to improving health with reduced nicotine tobacco, hemp/cannabis, and hops advanced plant technologies, today announced changes in its management team as the Company accelerates growth in its reduced nicotine content tobacco business. The Company announced that Michael Zercher, President and Chief Operating Officer, will depart the Company effective September 30, 2022. John Miller, who leads 22nd Century’s tobacco business team, will assume the tobacco-related duties of the Chief Operating Officer’s role, while Chief Executive Officer James A. Mish will assume the title of Corporate President.

“With exceptionally successful VLN® pilot results in hand, 22nd Century is expanding sales and planning rollouts in strategic regions across the United States,” said James A. Mish, chief executive officer of 22nd Century. “In order to coordinate all of the critical elements of this expansion plus additional planned market launches, John Miller, who already leads our tobacco product, marketing and partnership efforts, will assume full operational responsibility for the tobacco product lines, bringing to bear his more than 30 years of industry experience to direct a fully integrated national VLN® sales strategy.”.

Over the last 12 months, XXII stock dropped by -57.14%. The one-year 22nd Century Group Inc. stock forecast points to a potential upside of 76.61. The average equity rating for XXII stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $300.88 million, with 182.00 million shares outstanding and 162.40 million shares in the current float. Compared to the average trading volume of 2.73M shares, XXII stock reached a trading volume of 3212353 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $5.90 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.

Alliance Global Partners have made an estimate for 22nd Century Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 21, 2022. While these analysts kept the previous recommendation, Craig Hallum raised their target price to Buy. The new note on the price target was released on June 15, 2022, representing the official price target for 22nd Century Group Inc. stock. Previously, the target price had yet another raise to $6, while ROTH Capital analysts kept a Buy rating on XXII stock.

The Average True Range (ATR) for 22nd Century Group Inc. is set at 0.11, with the Price to Sales ratio for XXII stock in the period of the last 12 months amounting to 7.66. The Price to Book ratio for the last quarter was 2.51, with the Price to Cash per share for the same quarter was set at 0.12.

XXII Stock Performance Analysis:

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 2.99. With this latest performance, XXII shares dropped by -29.05% in over the last four-week period, additionally sinking by -39.21% over the last 6 months – not to mention a drop of -57.14% 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 40.29, with the RSI for the last a single of trading hit 43.65, and the three-weeks RSI is set at 40.48 for 22nd Century Group Inc. [XXII]. The present Moving Average for the last 50 days of trading for this stock 1.7523, while it was recorded at 1.3120 for the last single week of trading, and 2.0981 for the last 200 days.

Insight into 22nd Century Group Inc. Fundamentals:

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 1.90 and a Current Ratio set at 2.50.

22nd Century Group Inc. [XXII] Insider Position Details

There are presently around $59 million, or 20.60% of XXII stock, in the hands of institutional investors. The top three institutional holders of XXII stocks are: BLACKROCK INC. with ownership of 9,967,114, which is approximately -0.749% of the company’s market cap and around 2.80% of the total institutional ownership; VANGUARD GROUP INC, holding 8,841,455 shares of the stock with an approximate value of $12.2 million in XXII stocks shares; and ETF MANAGERS GROUP, LLC, currently with $8.79 million in XXII stock with ownership of nearly -27.776% of the company’s market capitalization.

64 institutional holders increased their position in 22nd Century Group Inc. [NASDAQ:XXII] by around 2,703,742 shares. Additionally, 45 investors decreased positions by around 5,859,307 shares, while 41 investors held positions by with 34,176,050 shares. The mentioned changes placed institutional holdings at 42,739,099 shares, according to the latest SEC report filing. XXII stock had 24 new institutional investments in for a total of 460,016 shares, while 11 institutional investors sold positions of 951,518 shares during the same period.


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