22nd Century Group Inc. (NASDAQ: XXII) stock fell -0.59% on Friday to $1.68 against a previous-day closing price of $1.69. With 1.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.3 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $1.6900 whereas the lowest price it dropped to was $1.6425. The 52-week range on XXII shows that it touched its highest point at $4.17 and its lowest point at $1.42 during that stretch. It currently has a 1-year price target of $5.90. Beta for the stock currently stands at 1.77.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of XXII was down-trending over the past week, with a drop of -19.23%, but this was down by -27.27% over a month. Three-month performance dropped to -13.40% while six-month performance fell -22.58%. The stock lost -47.99% in the past year, while it has lost -45.63% so far this year. A look at the trailing 12-month EPS for XXII yields -0.23 with Next year EPS estimates of -0.20. For the next quarter, that number is -0.06. This implies an EPS growth rate of -47.00% for this year and 4.50% for next year.
Float and Shares Shorts:
At present, 163.16 million XXII shares are outstanding with a float of 158.71 million shares on hand for trading. On Apr 28, 2022, short shares totaled 14.42 million, which was 8.76% higher than short shares on Mar 30, 2022. In addition to Mr. James A. Mish as the firm’s CEO, Member of Scientific Advisory Board & Director, Mr. Michael J. Zercher serves as its Pres & COO.
Through their ownership of 28.20% of XXII’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 16.98% of XXII, in contrast to 15.78% held by mutual funds. Shares owned by individuals account for 10.36%. As the largest shareholder in XXII with 5.63% of the stake, BlackRock Fund Advisors holds 9,266,032 shares worth 9,266,032. A second-largest stockholder of XXII, ETF Managers Group LLC, holds 8,816,841 shares, controlling over 5.36% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in XXII, holding 7,750,489 shares or 4.71% stake. With a 3.88% stake in XXII, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 6,377,436 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.36% of XXII stock, is the second-largest Mutual Fund holder. It holds 5,522,465 shares valued at 11.76 million. iShares Russell 2000 ETF holds 2.16% of the stake in XXII, owning 3,559,553 shares worth 7.58 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for XXII since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With XXII analysts setting a high price target of $8.50 and a low target of $5.00, the average target price over the next 12 months is $5.90. Based on these targets, XXII could surge 405.95% to reach the target high and rise by 197.62% to reach the target low. Reaching the average price target will result in a growth of 251.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. XXII will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$0.15 being high and -$0.25 being low. For XXII, this leads to a yearly average estimate of -$0.20. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. 22nd Century Group Inc. surprised analysts by $0.01 when it reported -$0.05 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.04 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.05.
Summary of Insider Activity:
Insiders traded XXII stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 100,000 shares were bought while 20,324 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 2,308,926 while 73,016 shares were sold.