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.
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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