Horizons ETFs Management (Canada).. recently announced the acquisition of new stake in 22nd Century Group Inc. (AMEX:XXII). The institutional investor has increased its shareholding in the Healthcare company by 24.66% to 1.44 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 1.04% valued currently at $1.14 million. In addition, Jane Street Capital LLC raised its holdings by 1.19 million to 1.19 million shares. And Penserra Capital Management LLC has lifted its position by 68.01% or 0.25 million shares – to 0.61 million shares.
With over 1.07 million 22nd Century Group Inc. (XXII) shares trading Tuesday and a closing price of $0.62 on the day, the dollar volume was approximately $0.66 million. The shares have shown a negative weekly performance of -2.21% and its price on 09/01/20 gained nearly 4.81%. Currently, there are 138.85M common shares owned by the public and among those 136.40M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for XXII have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00 should the stock experience a downside. But an upside of 84.5% will see the stock hit the forecast high price target while mean target price for the stock is $4.00.
Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 2,262,966 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 700,000 shares.
The top 3 mutual fund holders in 22nd Century Group Inc. are ETFMG Alternative Harvest ETF, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. ETFMG Alternative Harvest ETF owns 13.65 million shares of the company’s stock, all valued at over $10.81 million. The company sold 77990.0 shares recently to bring their total holdings to about 9.83% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 1.22% of the shares outstanding.
Shares of 22nd Century Group Inc. (AMEX: XXII) opened at $0.60, up $0.01 from a prior closing price of $0.59. However, the script later closed the day at $0.62, up 4.81%. The company’s stock has a 5-day price change of -2.21% and -22.13% over the past three months. XXII shares are trading -43.79% year to date (YTD), with the 12-month market performance down to -67.80% lower. It has a 12-month low price of $0.58 and touched a high of $2.46 over the same period. Currently, 1.07 million shares have been traded, compared to an average intraday trading volume of 1.33 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.02%, -16.09%, and -28.52% respectively.
Institutional ownership of 22nd Century Group Inc. (AMEX: XXII) shares accounts for 28.30% of the company’s 138.85M shares outstanding. Mutual fund holders own 17.68%, while other institutional holders and individual stakeholders account for 9.30% and 15.32% respectively.
It has a market capitalization of $85.68M and a beta (3y monthly) value of 1.18. The earnings-per-share (ttm) stands at -$0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.60% over the week and 6.25% over the month.
Analysts forecast that 22nd Century Group Inc. (XXII) will achieve an EPS of -$0.04 for the current quarter, -$0.04 for the next quarter and -$0.16 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.04. Earnings per share for the fiscal year are expected to decrease by -229.20%, and -14.30% over the next financial year.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the XXII, a number of firms have released research notes about the stock. Chardan Capital Markets stated their Buy rating for the stock in a research note on October 16, 2017, with the firm’s price target at $3.50-$11.50. Chardan Capital Markets coverage for the 22nd Century Group Inc. (XXII) stock in a research note released on August 11, 2016 offered a Buy rating with a price target of $3.50.