Cronos Group Inc. (NASDAQ:CRON – Get Free Report) shares traded up 8.9% during mid-day trading on Thursday . The company traded as high as $2.84 and last traded at $2.81. 1,506,968 shares were traded during trading, a decline of 50% from the average session volume of 2,994,507 shares. The stock had previously closed at $2.58.
Wall Street Analyst Weigh In
Separately, Bank of America upped their target price on Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research report on Monday, April 8th.
View Our Latest Report on CRON
Cronos Group Stock Performance
Cronos Group (NASDAQ:CRON – Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $23.92 million for the quarter, compared to the consensus estimate of $25.15 million. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. As a group, research analysts predict that Cronos Group Inc. will post -0.01 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Kerrisdale Advisers LLC bought a new position in Cronos Group in the third quarter valued at approximately $1,448,000. Intact Investment Management Inc. grew its stake in shares of 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 during the period. AdvisorShares Investments LLC increased its holdings in Cronos Group by 252.4% in the fourth quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company’s stock valued at $1,031,000 after purchasing an additional 353,404 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cronos Group by 47.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company’s stock valued at $2,617,000 after buying an additional 321,254 shares during the period. Finally, JW Asset Management LLC acquired a new position in shares of Cronos Group during the 3rd quarter worth about $400,000. 8.71% of the stock is currently owned by institutional investors.
Cronos Group Company Profile
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.
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