Cronos Group (NASDAQ:CRON) Trading Up 10.7% – Still a Buy?

Shares of Cronos Group Inc. (NASDAQ:CRON) traded up 10.7% during trading on Tuesday . The stock traded as high as $2.74 and last traded at $2.7350. Approximately 2,140,117 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 1,903,036 shares. The stock had previously closed at $2.47.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRON shares. Zacks Research raised shares of Cronos Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Cronos Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cronos Group in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Cronos Group Price Performance

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 28.65 and a beta of 0.66. The business has a fifty day moving average price of $2.50 and a 200 day moving average price of $2.32.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. Cronos Group had a net margin of 27.27% and a negative return on equity of 1.12%. The company had revenue of $36.34 million for the quarter, compared to analyst estimates of $36.47 million. As a group, sell-side analysts predict that Cronos Group Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

A number of institutional investors have recently added to or reduced their stakes in CRON. Swiss Life Asset Management Ltd bought a new position in shares of Cronos Group during the 3rd quarter worth approximately $31,000. Cambria Investment Management L.P. raised its stake in Cronos Group by 15.0% during the third quarter. Cambria Investment Management L.P. now owns 324,502 shares of the company’s stock worth $902,000 after acquiring an additional 42,412 shares in the last quarter. Sender Co & Partners Inc. bought a new position in shares of Cronos Group during the third quarter valued at $35,000. Scientech Research LLC acquired a new stake in shares of Cronos Group in the 3rd quarter valued at $32,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Cronos Group by 36.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 654,459 shares of the company’s stock valued at $1,819,000 after purchasing an additional 174,834 shares in the last quarter. 8.71% of the stock is owned by institutional investors and hedge funds.

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.