Cronos Group Inc. (NASDAQ:CRON) Stock Has Average Target Price of $2.30 According to Brokerages

Shares of Cronos Group Inc. (NASDAQ:CRON) have earned a consensus rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2.30.

CRON has been the topic of several analyst reports. TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a report on Monday, September 28th. Weiss Ratings upgraded Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Wall Street Zen downgraded shares of Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Zacks Research upgraded Cronos Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 22nd.

Institutional Trading of Cronos Group

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Cronos Group by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,679,051 shares of the company’s stock valued at $6,724,000 after purchasing an additional 172,841 shares in the last quarter. Renaissance Technologies LLC lifted its position in Cronos Group by 8.9% during the first quarter. Renaissance Technologies LLC now owns 2,009,549 shares of the company’s stock valued at $5,044,000 after acquiring an additional 164,500 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of Cronos Group during the 2nd quarter valued at $3,820,000. Pillsbury Lake Capital LLC acquired a new stake in Cronos Group in the second quarter worth about $2,252,253. Finally, Janney Montgomery Scott LLC boosted its stake in Cronos Group by 5.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 491,430 shares of the company’s stock worth $1,233,000 after purchasing an additional 27,578 shares in the last quarter. 8.71% of the stock is owned by hedge funds and other institutional investors.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $3.30 on Friday. The company’s fifty day simple moving average is $3.30 and its 200-day simple moving average is $2.85. The stock has a market capitalization of $1.22 billion, a PE ratio of 16.50 and a beta of 0.90. Cronos Group has a 1-year low of $2.28 and a 1-year high of $3.61.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The firm had revenue of $53.01 million during 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%. As a group, research analysts anticipate that Cronos Group will post 0.12 EPS for the current year.

Cronos Group Company Profile

Cronos Group Inc is a Canadian cannabinoid company focused on developing, producing and commercializing cannabis and cannabis-derived consumer products. The company serves adult-use and medical cannabis markets through a portfolio of brands and sells products such as dried flower, pre-rolls, vaporizers, edibles, oils and other cannabis formats, subject to applicable regulations.

Its brand portfolio has included Spinach, which is positioned primarily in the adult-use cannabis market, as well as Lord Jones and PEACE NATURALS.