Brokerages Set Cronos Group Inc. (NASDAQ:CRON) Price Target at $2.30

Cronos Group Inc. (NASDAQ:CRON) has received a consensus rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $2.30.

A number of research analysts recently commented on CRON shares. Wall Street Zen raised Cronos Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cronos Group in a report on Friday, May 29th. Finally, TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th.

Cronos Group Trading Up 1.0%

NASDAQ CRON opened at $2.89 on Friday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 289.29 and a beta of 0.89. The company has a 50 day moving average of $2.76 and a 200-day moving average of $2.67. Cronos Group has a 1-year low of $1.92 and a 1-year high of $3.43.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $45.21 million for the quarter, compared to analyst estimates of $42.20 million. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%. On average, equities research analysts forecast that Cronos Group will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRON. Octavia Wealth Advisors LLC bought a new stake in shares of Cronos Group during the 4th quarter worth $28,000. Valeo Financial Advisors LLC acquired a new position in Cronos Group during the fourth quarter worth about $30,000. Brooklyn Investment Group raised its stake in Cronos Group by 5,733.0% during the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after acquiring an additional 10,778 shares in the last quarter. Swiss Life Asset Management Ltd bought a new position in shares of Cronos Group in the third quarter worth about $31,000. Finally, Scientech Research LLC acquired a new stake in shares of Cronos Group in the 3rd quarter valued at approximately $32,000. 8.71% of the stock is currently owned by 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.