Cronos Group (NASDAQ:CRON) Posts Earnings Results

Cronos Group (NASDAQ:CRON) issued its quarterly earnings data on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05, Zacks reports. The firm had revenue of $36.34 million during the quarter, compared to analysts’ expectations of $36.47 million. Cronos Group had a net margin of 27.27% and a negative return on equity of 0.84%.

Cronos Group Trading Up 0.4%

Shares of CRON traded up $0.01 during trading hours on Friday, reaching $2.48. 1,386,857 shares of the stock traded hands, compared to its average volume of 1,391,405. Cronos Group has a 52 week low of $1.60 and a 52 week high of $3.16. The company has a market cap of $949.57 million, a price-to-earnings ratio of 24.80 and a beta of 1.14. The stock has a fifty day simple moving average of $2.56 and a 200 day simple moving average of $2.24.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRON. Wall Street Zen raised shares of Cronos Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cronos Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Cronos Group

Several hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Cronos Group by 291.6% in the first quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock valued at $118,000 after acquiring an additional 48,476 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Cronos Group by 84.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock worth $1,948,000 after purchasing an additional 493,161 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Cronos Group in the second quarter worth $36,000. Legal & General Group Plc grew its stake in Cronos Group by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 195,368 shares of the company’s stock valued at $374,000 after purchasing an additional 27,111 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Cronos Group by 192.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock valued at $171,000 after purchasing an additional 59,013 shares during the last quarter. Institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.