Cronos Group (CRON) Shares Up 5.8%

Cronos Group Inc (NASDAQ:CRON) shot up 5.8% during trading on Tuesday . The company traded as high as $15.67 and last traded at $15.60. 4,648,537 shares were traded during mid-day trading, a decline of 63% from the average session volume of 12,436,815 shares. The stock had previously closed at $14.75.

A number of brokerages have commented on CRON. Eight Capital cut Cronos Group to a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research cut Cronos Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 28th. Cowen began coverage on Cronos Group in a research note on Tuesday, March 5th. They issued a “market perform” rating for the company. CIBC set a $30.00 price objective on Cronos Group and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Pi Financial reissued a “neutral” rating and issued a $24.00 price objective on shares of Cronos Group in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.03.

The company has a market cap of $5.17 billion, a P/E ratio of -195.00, a P/E/G ratio of 54.73 and a beta of 3.84.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.38. The company had revenue of $6.47 million for the quarter, compared to analysts’ expectations of $6.87 million. Cronos Group had a return on equity of 99.44% and a net margin of 2,107.83%. The business’s revenue was up 119.3% on a year-over-year basis. As a group, analysts predict that Cronos Group Inc will post -0.03 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Gables Capital Management Inc. boosted its position in shares of Cronos Group by 20.0% during the first quarter. Gables Capital Management Inc. now owns 3,600 shares of the company’s stock valued at $66,000 after buying an additional 600 shares during the last quarter. Focused Wealth Management Inc boosted its position in shares of Cronos Group by 48.5% during the first quarter. Focused Wealth Management Inc now owns 1,849 shares of the company’s stock valued at $34,000 after buying an additional 604 shares during the last quarter. RPG Investment Advisory LLC boosted its position in shares of Cronos Group by 237.5% during the first quarter. RPG Investment Advisory LLC now owns 1,350 shares of the company’s stock valued at $25,000 after buying an additional 950 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of Cronos Group by 125.0% during the first quarter. Kistler Tiffany Companies LLC now owns 1,755 shares of the company’s stock valued at $32,000 after buying an additional 975 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Cronos Group by 36.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,740 shares of the company’s stock valued at $39,000 after buying an additional 990 shares during the last quarter. 5.58% of the stock is currently owned by institutional investors.

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Cronos Group Company Profile (NASDAQ:CRON)

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations “MMPR”. The firm typically invests in companies based in Canada.

Further Reading: Percentage Gainers

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