Cronos Group Inc. (NASDAQ:CRON) Receives Average Recommendation of “Hold” from Analysts

Cronos Group Inc. (NASDAQ:CRON) has received an average recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $2.30.

A number of research firms have recently weighed in on CRON. TD Securities assumed coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They issued a “buy” rating on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $2.30 price target on shares of Cronos Group in a research note on Wednesday, January 14th. Canaccord Genuity Group started coverage on Cronos Group in a report on Tuesday, January 27th. They set a “buy” rating for the company. Weiss Ratings downgraded Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th.

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently modified their holdings of CRON. Pillsbury Lake Capital LLC acquired a new stake in shares of Cronos Group in the fourth quarter valued at about $4,837,000. Arrowstreet Capital Limited Partnership boosted its stake in Cronos Group by 1,135.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock valued at $3,075,000 after purchasing an additional 1,018,448 shares during the period. MMCAP International Inc. SPC boosted its stake in Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after purchasing an additional 991,977 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Cronos Group in the 2nd quarter valued at approximately $1,767,000. Finally, Oasis Management Co Ltd. bought a new position in Cronos Group in the 4th quarter worth approximately $2,409,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

Cronos Group Stock Performance

Shares of CRON opened at $2.39 on Friday. The company’s 50 day moving average price is $2.61 and its 200 day moving average price is $2.60. Cronos Group has a 52 week low of $1.60 and a 52 week high of $3.43. The company has a market capitalization of $908.57 million, a PE ratio of -238.76 and a beta of 0.78.

Cronos Group (NASDAQ:CRON) last released its earnings results on Thursday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $58.39 million during the quarter, compared to the consensus estimate of $38.51 million. Cronos Group had a negative net margin of 6.44% and a negative return on equity of 1.12%. On average, equities analysts forecast that Cronos Group will post -0.03 earnings per share for the current fiscal year.

About Cronos Group

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group’s business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company’s branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.