Quad Cities Investment Group LLC trimmed its holdings in Cronos Group Inc. (NASDAQ:CRON – Free Report) by 74.8% in the second quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the company’s stock after selling 296,389 shares during the period. Quad Cities Investment Group LLC’s holdings in Cronos Group were worth $278,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CRON. Baader Bank Aktiengesellschaft grew its position in Cronos Group by 2.0% during the first quarter. Baader Bank Aktiengesellschaft now owns 204,741 shares of the company’s stock worth $512,000 after buying an additional 3,985 shares in the last quarter. Virtu Financial LLC raised its holdings in Cronos Group by 10.4% in the 4th quarter. Virtu Financial LLC now owns 52,852 shares of the company’s stock valued at $139,000 after acquiring an additional 4,990 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Cronos Group by 19.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 32,631 shares of the company’s stock valued at $86,000 after acquiring an additional 5,349 shares during the period. Headlands Technologies LLC lifted its position in shares of Cronos Group by 12.5% during the 4th quarter. Headlands Technologies LLC now owns 63,097 shares of the company’s stock valued at $166,000 after acquiring an additional 6,998 shares during the period. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of Cronos Group by 169.7% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 16,371 shares of the company’s stock worth $42,000 after purchasing an additional 10,300 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on CRON shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cronos Group in a research note on Friday, May 29th. Wall Street Zen upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, TD Securities reissued a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.30.
Cronos Group Price Performance
Shares of CRON opened at $2.72 on Thursday. The firm has a 50 day simple moving average of $2.77 and a two-hundred day simple moving average of $2.67. Cronos Group Inc. has a one year low of $2.04 and a one year high of $3.43. The company has a market cap of $1.01 billion, a P/E ratio of 272.27 and a beta of 0.90.
Cronos Group (NASDAQ:CRON – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%.The firm had revenue of $45.21 million for the quarter, compared to the consensus estimate of $42.20 million. On average, analysts expect that Cronos Group Inc. will post 0.07 earnings per share for the current fiscal year.
About Cronos Group
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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