Cronos Group (NASDAQ:CRON) Reaches New 1-Year High – What’s Next?

by · The Markets Daily

Cronos Group Inc. (NASDAQ:CRON – Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $3.20 and last traded at $2.9850, with a volume of 4867039 shares changing hands. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

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

Read Our Latest Report on Cronos Group

Cronos Group Price Performance

The company has a market capitalization of $1.13 billion, a PE ratio of 29.85 and a beta of 0.66. The stock’s 50 day simple moving average is $2.51 and its 200-day simple moving average is $2.34.

Cronos Group (NASDAQ:CRON – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $36.34 million for the quarter, compared to analyst estimates of $36.47 million. Cronos Group had a net margin of 27.27% and a negative return on equity of 1.12%. On average, equities analysts predict that Cronos Group Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Cronos Group

A number of hedge funds have recently bought and sold shares of the stock. Quinn Opportunity Partners LLC increased its stake in shares of Cronos Group by 73.0% during the second quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock worth $14,206,000 after buying an additional 3,138,018 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake 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 acquiring an additional 1,018,448 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Cronos Group during the 2nd quarter worth approximately $1,767,000. Two Sigma Investments LP raised its holdings in shares of Cronos Group by 229.6% in the 3rd 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 purchased a new stake in shares of Cronos Group during the 3rd quarter worth $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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