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

Cronos Group Inc. (NASDAQ:CRON) has been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $2.30.

A number of research analysts have recently issued reports on CRON shares. Wall Street Zen downgraded Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded Cronos Group from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Finally, TD Securities reissued a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th.

Cronos Group Trading Up 0.3%

CRON stock opened at $3.15 on Tuesday. The stock’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $2.70. Cronos Group has a 12-month low of $2.28 and a 12-month high of $3.43. The stock has a market capitalization of $1.17 billion, a PE ratio of 15.75 and a beta of 0.90.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $53.01 million during the quarter, compared to analyst estimates of $44.20 million. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. On average, research analysts predict that Cronos Group will post 0.07 earnings per share for the current year.

Institutional Trading of Cronos Group

Large investors have recently made changes to their positions in the stock. Pillsbury Lake Capital LLC purchased a new position in shares of Cronos Group during the fourth quarter valued at approximately $4,837,000. Cibc World Market Inc. bought a new position in Cronos Group during the second quarter valued at approximately $3,820,000. Arrowstreet Capital Limited Partnership boosted its holdings in Cronos Group by 1,135.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock worth $3,075,000 after purchasing an additional 1,018,448 shares during the last quarter. MMCAP International Inc. SPC boosted its holdings in Cronos Group by 56.1% in the fourth quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock worth $7,262,000 after purchasing an additional 991,977 shares during the last quarter. Finally, Oasis Management Co Ltd. bought a new stake in Cronos Group in the 4th quarter worth approximately $2,409,000. 8.71% of the stock is currently owned by institutional investors.

Cronos Group Company Profile

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.