Cronos Group Inc. (NASDAQ:CRON) Given Average Rating of “Hold” by Brokerages

Shares of Cronos Group Inc. (NASDAQ:CRON) have been assigned an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $2.30.

Several equities analysts have issued reports on the stock. Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings downgraded shares of Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Sanford C. Bernstein restated a “market perform” rating and issued a $2.30 price objective on shares of Cronos Group in a research note on Wednesday, January 14th. Canaccord Genuity Group assumed coverage on shares of Cronos Group in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Finally, TD Securities assumed coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Cronos Group

Hedge funds have recently made changes to their positions in the business. Silver Oak Securities Incorporated acquired a new stake in shares of Cronos Group during the third quarter worth about $1,652,000. AdvisorShares Investments LLC boosted its stake in shares of Cronos Group by 38.1% during the third quarter. AdvisorShares Investments LLC now owns 816,068 shares of the company’s stock worth $2,269,000 after buying an additional 225,000 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Cronos Group by 50.2% during the third quarter. Hillsdale Investment Management Inc. now owns 1,383,776 shares of the company’s stock worth $3,827,000 after buying an additional 462,294 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Cronos Group during the third quarter worth about $751,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Cronos Group during the second quarter worth about $36,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

Cronos Group Price Performance

NASDAQ CRON opened at $2.57 on Wednesday. Cronos Group has a 1 year low of $1.69 and a 1 year high of $3.43. The company has a market capitalization of $966.99 million, a PE ratio of -256.74 and a beta of 0.81. The company has a fifty day moving average of $2.58 and a two-hundred day moving average of $2.60.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Cronos Group had a negative net margin of 6.44% and a negative return on equity of 1.12%. The company had revenue of $58.39 million during the quarter, compared to the consensus estimate of $38.51 million. On average, research analysts expect that Cronos Group will post -0.03 earnings per share for the current year.

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.