Cronos Group Inc. (NASDAQ:CRON) Sees Significant Decline in Short Interest

Cronos Group Inc. (NASDAQ:CRON) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,550,000 shares, a drop of 13.8% from the March 15th total of 6,440,000 shares. Based on an average daily trading volume, of 2,860,000 shares, the short-interest ratio is currently 1.9 days. Currently, 2.8% of the company’s stock are sold short.

Cronos Group Trading Up 0.8 %

NASDAQ:CRON traded up $0.02 on Tuesday, hitting $2.46. The stock had a trading volume of 2,054,751 shares, compared to its average volume of 2,868,021. Cronos Group has a 1 year low of $1.64 and a 1 year high of $2.99. The firm’s fifty day simple moving average is $2.31 and its two-hundred day simple moving average is $2.09.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. The company had revenue of $23.92 million for the quarter, compared to analysts’ expectations of $25.15 million. On average, equities analysts expect that Cronos Group will post -0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America increased their price objective on shares of Cronos Group from $2.00 to $2.50 and gave the company an “underperform” rating in a research note on Monday, April 8th.

Institutional Investors Weigh In On Cronos Group

Large investors have recently modified their holdings of the stock. Chesapeake Capital Corp IL purchased a new stake in shares of Cronos Group during the 4th quarter worth approximately $25,000. Cetera Investment Advisers purchased a new stake in shares of Cronos Group during the 4th quarter worth approximately $38,000. Deutsche Bank AG increased its stake in shares of Cronos Group by 21,218.6% during the 4th quarter. Deutsche Bank AG now owns 14,923 shares of the company’s stock worth $38,000 after purchasing an additional 14,853 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Cronos Group during the 2nd quarter worth approximately $43,000. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Cronos Group during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.