22nd Century Group, Inc. (XXII) hit an intraday high Friday at $2.55. The shares finished at $2.5, after trading as low as $2.18 earlier in the session. It rose 13.64% in recent trade and currently has a stock-market value of $273.7M. Trading activity significantly improved as the volume at ready counter increased to 6,493,085 shares versus 2,228,865 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,980,985 shares. The stock is now 30.21% above against its bear-market low of $1.92 on April 24, 2018. It has retreated -31.6% since it’s 52-week high of $3.29 reached in October. Now the market price is down -9.09% on the year and up 0.4% YTD.
XXII’s 50 day simple moving average (SMA 50) price is $2.52 and its 200-day simple moving average (SMA 200) price is $2.51. The company’s stock currently has a total float of 109.01M shares. Its weekly volatility is hovering around 6.78% and felt 6.69% volatility in price over a month. On the upside, the share price will test short term resistance at around $2.64. On a downside, the stock is likely to find some support, which begins at $2.27. The failure to get near-term support could push it to $2.04.
Separately, it has been reported that multiple insider activity took place at 22nd Century Group, Inc. (XXII). VP, General Counsel & Sec’y. James Thomas L. sold 50,000 shares for $50,000 in transaction occurred on 2018/06/29. After making this transaction, the VP, General Counsel & Sec’y. owns a direct stake of 122,000 shares, worth $125,000, as per the last closing price. On 2017/09/29 Moynihan Michael Robert, Vice President of R&D at XXII, dumped 50,000 shares at an average price of $2.67 per share. The selling total is valued at $2,168,050.
Vice President of R&D, Moynihan Michael Robert had divested 29,532 shares for $917,220 through a trade on 2017/07/31. Following this activity, the insider holds 59,064 shares worth $2,293,050 as of recent close. Wall Street’s most bullish 22nd Century Group, Inc. (NYSE:XXII) analysts are predicting the share price to blow past $11.5 per share during the next 12 months. The current median share price forecast by them is $11.5, suggesting that the stock could increase 360% in that time frame. The average price target of $11.5 calls for a nearly 360% increase in the stock price.
Also, it is trading at rather expensive levels at just over 3.91x price/book and 10.86x price/sales. Compared to others, 22nd Century Group, Inc. is in a different league with regards to profitability, having net margins of -11%. To put some perspective around this, the industry’s average net margin is -2.25%. XXII’s ROE is -3.6%, which is also considerably worse than the industry’s ROE of 10.68%. It’s also very liquid in the near term, with a current ratio of 10.2. The stock has a debt/capital of 0.01.
Shares of 22nd Century Group, Inc. (XXII) have dropped -6.4% since the company’s last earnings report. XXII last reported earnings on November 07, 2018 when it released Dec-17 results that receded expectations. The company raked in -$0.03 per share, -99.94% change on the same period last year. That was worse than consensus for -$0.02. Revenue for the recent quarter stood at $5.94 million, up 78% on last year and below the $6.6 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $20 million to $20 million, which should be compared with $25.65 million generated last year. EPS is seen in a range of $9.99 to $0.66.