Cronos Group (NASDAQ:CRON) Trading 7.4% Higher

Cronos Group Inc (NASDAQ:CRON)’s stock price traded up 7.4% during mid-day trading on Friday . The company traded as high as $8.60 and last traded at $8.52, 7,900,142 shares were traded during mid-day trading. A decline of 4% from the average session volume of 8,241,863 shares. The stock had previously closed at $7.93.

A number of equities research analysts recently issued reports on the stock. MKM Partners assumed coverage on shares of Cronos Group in a report on Thursday, September 19th. They issued a “neutral” rating and a $14.00 price objective for the company. ValuEngine cut shares of Cronos Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Zacks Investment Research upgraded shares of Cronos Group from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, October 8th. BMO Capital Markets upgraded shares of Cronos Group from an “underperform” rating to a “market perform” rating in a report on Thursday, September 5th. Finally, Bank of America upped their price objective on shares of Cronos Group from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.71.

The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -106.50 and a beta of 3.40. The stock’s 50-day simple moving average is $8.76 and its two-hundred day simple moving average is $12.99.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $7.16 million. Cronos Group had a net margin of 2,521.25% and a return on equity of 60.20%. The company’s revenue was up 217.6% on a year-over-year basis. On average, research analysts anticipate that Cronos Group Inc will post -0.08 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Focused Wealth Management Inc grew its stake in Cronos Group by 102.4% during the third quarter. Focused Wealth Management Inc now owns 3,756 shares of the company’s stock worth $34,000 after buying an additional 1,900 shares during the last quarter. Signition LP grew its stake in Cronos Group by 111.0% during the third quarter. Signition LP now owns 32,700 shares of the company’s stock worth $296,000 after buying an additional 17,200 shares during the last quarter. SG Americas Securities LLC grew its stake in Cronos Group by 694.4% during the third quarter. SG Americas Securities LLC now owns 633,214 shares of the company’s stock worth $5,731,000 after buying an additional 553,503 shares during the last quarter. Traynor Capital Management Inc. bought a new stake in Cronos Group during the third quarter worth about $126,000. Finally, Creative Planning grew its stake in Cronos Group by 13.2% during the third quarter. Creative Planning now owns 41,235 shares of the company’s stock worth $373,000 after buying an additional 4,815 shares during the last quarter. 11.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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