Cronos Group (NASDAQ:CRON) Trading Down 4.1% – Should You Sell?

Shares of Cronos Group Inc. (NASDAQ:CRON) traded down 4.1% during trading on Monday . The stock traded as low as $2.84 and last traded at $2.8380. 1,282,336 shares were traded during trading, a decline of 39% from the average session volume of 2,099,917 shares. The stock had previously closed at $2.96.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 15th. Zacks Research raised shares of Cronos Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Wall Street Zen upgraded Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Cronos Group currently has an average rating of “Buy”.

Cronos Group Stock Performance

The business has a 50 day simple moving average of $2.57 and a 200-day simple moving average of $2.39. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 27.95 and a beta of 0.66.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. Cronos Group had a negative return on equity of 1.12% and a net margin of 27.27%.The firm had revenue of $36.34 million during the quarter, compared to the consensus estimate of $36.47 million. As a group, research analysts anticipate that Cronos Group Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Cronos Group

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in shares of Cronos Group by 5,733.0% in the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after purchasing an additional 10,778 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in Cronos Group in the 3rd quarter worth about $31,000. Scientech Research LLC purchased a new stake in Cronos Group in the 3rd quarter valued at about $32,000. Sender Co & Partners Inc. bought a new position in shares of Cronos Group during the 3rd quarter worth approximately $35,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Cronos Group in the 3rd quarter worth approximately $40,000. 8.71% of the stock is owned by hedge funds and other institutional investors.

Cronos Group Company Profile

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.