Cronos Group (NASDAQ:CRON) Sees Large Volume Increase

Cronos Group Inc. (NASDAQ:CRON) saw an uptick in trading volume on Tuesday . 4,756,022 shares changed hands during trading, an increase of 91% from the previous session’s volume of 2,487,493 shares.The stock last traded at $2.67 and had previously closed at $2.49.

Wall Street Analyst Weigh In

Separately, Bank of America increased their price objective on Cronos Group from $1.78 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, December 28th.

Cronos Group Trading Down 3.3 %

The firm has a market cap of $995.19 million, a PE ratio of -13.74 and a beta of 1.13. The firm’s 50 day simple moving average is $2.16 and its 200 day simple moving average is $2.06.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $23.92 million for the quarter, compared to analysts’ expectations of $25.15 million. Cronos Group had a negative net margin of 84.15% and a negative return on equity of 3.99%. As a group, equities research analysts predict that Cronos Group Inc. will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cronos Group

Hedge funds have recently added to or reduced their stakes in the company. Chesapeake Capital Corp IL bought a new position in Cronos Group in the 4th quarter worth about $25,000. Cetera Investment Advisers bought a new position in Cronos Group in the 4th quarter worth about $38,000. Deutsche Bank AG boosted its stake in shares of Cronos Group by 21,218.6% during the fourth quarter. Deutsche Bank AG now owns 14,923 shares of the company’s stock valued at $38,000 after purchasing an additional 14,853 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Cronos Group by 57.0% during the fourth quarter. International Assets Investment Management LLC now owns 19,015 shares of the company’s stock valued at $40,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Cronos Group during the second quarter valued at approximately $43,000. 8.71% of the stock is currently owned by institutional investors.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones brand in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.