Cronos Group (NASDAQ:CRON) Releases Earnings Results, Beats Estimates By $0.05 EPS

Cronos Group (NASDAQ:CRON) announced its earnings results on Thursday. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05, Zacks reports. Cronos Group had a net margin of 27.27% and a negative return on equity of 0.84%. The business had revenue of $36.34 million for the quarter, compared to analysts’ expectations of $36.47 million.

Cronos Group Trading Up 0.4%

Shares of NASDAQ:CRON traded up $0.01 during midday trading on Friday, hitting $2.48. The stock had a trading volume of 1,386,857 shares, compared to its average volume of 1,391,405. Cronos Group has a 1 year low of $1.60 and a 1 year high of $3.16. The stock has a 50 day moving average price of $2.56 and a two-hundred day moving average price of $2.24. The company has a market capitalization of $949.57 million, a PE ratio of 24.80 and a beta of 1.14.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Cronos Group in a research report on Wednesday, October 8th. Wall Street Zen raised Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Cronos Group

A number of institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. purchased a new position in shares of Cronos Group during the 2nd quarter worth approximately $36,000. Jones Financial Companies Lllp grew its holdings in Cronos Group by 291.6% during the first quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock worth $118,000 after acquiring an additional 48,476 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Cronos Group by 192.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock worth $171,000 after acquiring an additional 59,013 shares in the last quarter. Bank of America Corp DE lifted its holdings in Cronos Group by 11.0% in the second quarter. Bank of America Corp DE now owns 135,180 shares of the company’s stock valued at $258,000 after acquiring an additional 13,450 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Cronos Group by 35.0% in the second quarter. Corient Private Wealth LLC now owns 135,882 shares of the company’s stock valued at $260,000 after acquiring an additional 35,245 shares during the period. Hedge funds and other institutional investors own 8.71% of the company’s stock.

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.