Cronos Group (NASDAQ:CRON) Lowered to “Hold” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Cronos Group (NASDAQ:CRON – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

CRON has been the topic of several other research reports. TD Securities reiterated a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th. Weiss Ratings upgraded Cronos Group from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.30.

Check Out Our Latest Analysis on CRON

Cronos Group Stock Down 0.6%

Shares of NASDAQ:CRON opened at $3.14 on Friday. Cronos Group has a fifty-two week low of $2.28 and a fifty-two week high of $3.43. The firm’s 50-day simple moving average is $2.81 and its 200-day simple moving average is $2.69. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 15.70 and a beta of 0.90.

Cronos Group (NASDAQ:CRON – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. The firm had revenue of $53.01 million during the quarter, compared to analysts’ expectations of $44.20 million. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. On average, research analysts forecast that Cronos Group will post 0.07 EPS for the current year.

Institutional Trading of Cronos Group

A number of institutional investors have recently added to or reduced their stakes in CRON. MMCAP International Inc. SPC lifted its position in shares of Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after acquiring an additional 991,977 shares during the period. Oasis Management Co Ltd. acquired a new stake in shares of Cronos Group in the 4th quarter worth approximately $2,409,000. Renaissance Technologies LLC increased its stake in Cronos Group by 8.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,009,549 shares of the company’s stock valued at $5,044,000 after purchasing an additional 164,500 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Cronos Group by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,679,051 shares of the company’s stock valued at $6,724,000 after purchasing an additional 172,841 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in Cronos Group by 2.0% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 204,741 shares of the company’s stock valued at $512,000 after purchasing an additional 3,985 shares in the last quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.

About Cronos Group

(Get Free Report)

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.

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