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

Shares of Cronos Group Inc. (NASDAQ:CRONGet Free Report) have been assigned an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $2.30.

Several research analysts recently commented on CRON shares. Wall Street Zen upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. TD Securities reiterated a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cronos Group in a report on Friday, May 29th.

Get Our Latest Report on CRON

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRON. Pillsbury Lake Capital LLC bought a new position in shares of Cronos Group during the 4th quarter worth about $4,837,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cronos Group by 1,135.6% during the 3rd 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 period. MMCAP International Inc. SPC increased its holdings in shares of Cronos Group by 56.1% during the 4th 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 period. Oasis Management Co Ltd. bought a new position in shares of Cronos Group during the 4th quarter worth about $2,409,000. Finally, Two Sigma Investments LP increased its holdings in shares of Cronos Group by 229.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,310,386 shares of the company’s stock worth $3,643,000 after purchasing an additional 912,773 shares during the period. Institutional investors own 8.71% of the company’s stock.

Cronos Group Stock Performance

Cronos Group stock opened at $2.81 on Monday. The company has a market capitalization of $1.05 billion, a P/E ratio of 281.28 and a beta of 0.89. The firm’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.66. Cronos Group has a 1-year low of $1.89 and a 1-year high of $3.43.

Cronos Group (NASDAQ:CRONGet Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $58.97 million for the quarter, compared to the consensus estimate of $42.20 million. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. On average, equities research analysts predict that Cronos Group will post 0.07 earnings per share for the current year.

About Cronos Group

(Get Free Report)

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.

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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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