Cronos Group (NASDAQ:CRON) Sees Large Volume Increase – What’s Next?

by · The Markets Daily

Cronos Group Inc. (NASDAQ:CRON – Get Free Report) shares saw an uptick in trading volume on Monday . 1,368,603 shares changed hands during trading, a decline of 32% from the previous session’s volume of 2,024,639 shares.The stock last traded at $3.1150 and had previously closed at $3.27.

Wall Street Analyst Weigh In

CRON has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 8th. Wall Street Zen raised shares of Cronos Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Zacks Research raised shares of Cronos Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Check Out Our Latest Report on Cronos Group

Cronos Group Price Performance

The firm has a 50 day moving average of $2.52 and a 200-day moving average of $2.35. The stock has a market capitalization of $1.17 billion, a P/E ratio of 30.55 and a beta of 0.66.

Cronos Group (NASDAQ:CRON – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $36.34 million during the quarter, compared to the consensus estimate of $36.47 million. As a group, equities analysts expect that Cronos Group Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Cronos Group

A number of hedge funds have recently made changes to their positions in the business. Quinn Opportunity Partners LLC boosted its position in shares of Cronos Group by 73.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock valued at $14,206,000 after acquiring an additional 3,138,018 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Cronos Group by 1,135.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock worth $3,075,000 after purchasing an additional 1,018,448 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Cronos Group during the second quarter worth about $1,767,000. Two Sigma Investments LP boosted its holdings in Cronos Group by 229.6% during the third quarter. Two Sigma Investments LP now owns 1,310,386 shares of the company’s stock valued at $3,643,000 after purchasing an additional 912,773 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in shares of Cronos Group in the 3rd quarter valued at approximately $1,652,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

About Cronos Group

(Get Free Report)

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.

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