Cronos Group (NASDAQ:CRON) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Cronos Group (NASDAQ:CRON) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities analysts have also issued reports on CRON. Weiss Ratings upgraded Cronos Group from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. TD Securities reiterated a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.30.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $3.15 on Friday. The company has a market cap of $1.17 billion, a PE ratio of 15.75 and a beta of 0.90. The firm has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $2.70. Cronos Group has a fifty-two week low of $2.28 and a fifty-two week high of $3.43.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. The company had revenue of $53.01 million for the quarter, compared to the consensus estimate of $44.20 million. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. Analysts expect that Cronos Group will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cronos Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pure Financial Advisors LLC acquired a new stake in shares of Cronos Group during the 2nd quarter valued at about $28,000. OneDigital Investment Advisors LLC acquired a new position in Cronos Group in the second quarter worth about $29,000. Valeo Financial Advisors LLC bought a new position in Cronos Group during the fourth quarter worth about $30,000. Brooklyn Investment Group lifted its stake in Cronos Group by 5,733.0% during the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after purchasing an additional 10,778 shares during the period. Finally, Scientech Research LLC bought a new position in Cronos Group during the third quarter worth about $32,000. 8.71% of the stock is owned by institutional investors.

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.