Cronos Group (TSE:CRON) Trading 14.2% Higher – Here’s Why

Cronos Group Inc. (TSE:CRON)’s share price rose 14.2% on Thursday . The company traded as high as C$4.34 and last traded at C$4.34. Approximately 494,519 shares traded hands during mid-day trading, an increase of 198% from the average session volume of 166,217 shares. The stock had previously closed at C$3.80.

Analyst Upgrades and Downgrades

Separately, TD increased their price objective on Cronos Group from C$4.50 to C$5.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Cronos Group presently has an average rating of “Buy” and a consensus target price of C$4.75.

Cronos Group Stock Performance

The company has a quick ratio of 24.01, a current ratio of 21.87 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is C$3.91 and its two-hundred day simple moving average is C$3.71. The company has a market cap of C$1.61 billion, a price-to-earnings ratio of -188.00, a PEG ratio of 0.12 and a beta of 1.13.

Cronos Group (TSE:CRON) last issued its quarterly earnings data on Monday, May 11th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$62.86 million during the quarter. Cronos Group had a negative net margin of 1.29% and a negative return on equity of 0.19%. On average, equities analysts predict that Cronos Group Inc. will post -0.26 EPS for the current year.

Cronos Group Company Profile

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S.