Cronos Group Inc. (NASDAQ:CRON – Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 5,550,000 shares, a drop of 13.8% from the March 15th total of 6,440,000 shares. Based on an average daily volume of 2,860,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.8% of the shares of the company are sold short.
Institutional Trading of Cronos Group
Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning increased its holdings in Cronos Group by 23.1% during the second quarter. Creative Planning now owns 16,549 shares of the company’s stock valued at $47,000 after buying an additional 3,100 shares during the period. Credit Suisse AG increased its holdings in Cronos Group by 3.0% during the third quarter. Credit Suisse AG now owns 173,719 shares of the company’s stock valued at $490,000 after buying an additional 5,052 shares during the period. UBS Group AG increased its holdings in Cronos Group by 22.0% during the third quarter. UBS Group AG now owns 28,433 shares of the company’s stock valued at $80,000 after buying an additional 5,123 shares during the period. Royal Bank of Canada increased its holdings in Cronos Group by 8.9% during the second quarter. Royal Bank of Canada now owns 75,411 shares of the company’s stock valued at $149,000 after buying an additional 6,187 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in 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 buying an additional 6,900 shares during the period. Institutional investors own 8.71% of the company’s stock.
Cronos Group Price Performance
NASDAQ CRON remained flat at $2.44 during trading on Tuesday. 2,245,965 shares of the company’s stock traded hands, compared to its average volume of 2,871,531. The stock has a market cap of $932.10 million, a PE ratio of -12.84 and a beta of 1.17. Cronos Group has a twelve month low of $1.64 and a twelve month high of $2.99. The firm’s 50 day moving average price is $2.31 and its 200 day moving average price is $2.10.
Analyst Upgrades and Downgrades
Separately, Bank of America increased their price target on Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research note on Monday, April 8th.
Read Our Latest Stock Report on Cronos Group
Cronos Group Company Profile
Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.
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