Cronos Group (NASDAQ:CRON) Sees Strong Trading Volume

Cronos Group Inc. (NASDAQ:CRON) shares saw strong trading volume on Monday . 3,008,545 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 2,897,714 shares.The stock last traded at $2.20 and had previously closed at $2.37.

Analyst Ratings Changes

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

Cronos Group Stock Up 4.7 %

The firm has a fifty day moving average of $2.34 and a 200 day moving average of $2.11.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data 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 business had revenue of $23.92 million for the quarter, compared to analyst estimates of $25.15 million. As a group, equities analysts expect that Cronos Group Inc. will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Cronos Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intact Investment Management Inc. raised its holdings in Cronos Group by 54.2% during the third quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company’s stock worth $2,211,000 after purchasing an additional 389,610 shares in the last quarter. Kerrisdale Advisers LLC acquired a new stake in Cronos Group during the 3rd quarter worth $1,448,000. AdvisorShares Investments LLC raised its stake in Cronos Group by 252.4% during the 4th quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company’s stock worth $1,031,000 after acquiring an additional 353,404 shares in the last quarter. Formidable Asset Management LLC lifted its position in Cronos Group by 12.7% in the fourth quarter. Formidable Asset Management LLC now owns 251,841 shares of the company’s stock valued at $526,000 after acquiring an additional 28,340 shares during the last quarter. Finally, Cambria Investment Management L.P. lifted its holdings in shares of Cronos Group by 32.2% in the 3rd quarter. Cambria Investment Management L.P. now owns 232,330 shares of the company’s stock valued at $465,000 after purchasing an additional 56,560 shares during the last quarter. 8.71% of the stock is owned by institutional investors and hedge funds.

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.