Cronos Group (NASDAQ:CRON) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Cronos Group (NASDAQ:CRON) from a sell rating to a hold rating in a research report released on Sunday morning.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of Cronos Group in a research note on Tuesday, January 27th. They issued a “buy” rating on the stock. TD Securities assumed coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They set a “buy” rating for the company. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $2.30 price target on shares of Cronos Group in a report on Wednesday, January 14th. Weiss Ratings downgraded Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Finally, Zacks Research lowered Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.30.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $2.57 on Friday. The firm has a market cap of $977.01 million, a PE ratio of -256.74 and a beta of 0.78. Cronos Group has a 1 year low of $1.60 and a 1 year high of $3.43. The stock has a fifty day moving average price of $2.64 and a 200-day moving average price of $2.61.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $58.39 million for the quarter, compared to the consensus estimate of $38.51 million. Cronos Group had a negative net margin of 6.44% and a negative return on equity of 1.12%. As a group, equities analysts anticipate that Cronos Group will post -0.03 EPS for the current fiscal year.

Institutional Trading of Cronos Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Octavia Wealth Advisors LLC bought a new position in Cronos Group in the 4th quarter worth about $28,000. Brooklyn Investment Group increased its position in shares of Cronos Group by 5,733.0% during the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after buying an additional 10,778 shares during the period. Swiss Life Asset Management Ltd bought a new stake in shares of Cronos Group during the third quarter valued at about $31,000. Valeo Financial Advisors LLC purchased a new stake in shares of Cronos Group in the fourth quarter worth about $30,000. Finally, Scientech Research LLC purchased a new stake in shares of Cronos Group in the third quarter worth about $32,000. 8.71% of the stock is currently owned by institutional investors.

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.