Cronos Group Inc. (NASDAQ:CRON) Given Consensus Rating of “Hold” by Analysts

Cronos Group Inc. (NASDAQ:CRON) has been given an average rating of “Hold” by the five research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $2.30.

A number of equities analysts have recently issued reports on CRON shares. Wall Street Zen cut Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings downgraded Cronos Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th.

Cronos Group Stock Performance

Cronos Group stock opened at $3.35 on Friday. Cronos Group has a fifty-two week low of $2.28 and a fifty-two week high of $3.61. The stock has a market cap of $1.23 billion, a P/E ratio of 16.75 and a beta of 0.94. The firm’s fifty day moving average price is $3.09 and its 200-day moving average price is $2.81.

Cronos Group (NASDAQ:CRON) last announced its 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. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. The company had revenue of $53.01 million during the quarter, compared to analyst estimates of $44.20 million. On average, analysts predict that Cronos Group will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Amundi boosted its stake in shares of Cronos Group by 14.8% in the 2nd quarter. Amundi now owns 24,728 shares of the company’s stock valued at $69,000 after purchasing an additional 3,180 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Cronos Group by 2.0% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 204,741 shares of the company’s stock worth $512,000 after purchasing an additional 3,985 shares during the period. Squarepoint Ops LLC lifted its stake in Cronos Group by 14.6% in the second quarter. Squarepoint Ops LLC now owns 42,661 shares of the company’s stock worth $119,000 after purchasing an additional 5,441 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Cronos Group by 69.0% during the second quarter. Concurrent Investment Advisors LLC now owns 19,623 shares of the company’s stock valued at $55,000 after buying an additional 8,009 shares during the period. Finally, Pure Financial Advisors LLC purchased a new stake in Cronos Group during the second quarter valued at about $28,000. 8.71% of the stock is owned by hedge funds and other institutional investors.

About Cronos Group

Cronos Group Inc is a Toronto-based cannabinoid company that develops, produces, and commercializes cannabis and cannabis-derived products. The company serves both the adult-use and medical cannabis markets, with activities spanning cultivation, product development, manufacturing, and brand marketing.

Cronos offers cannabis flower, pre-rolls, vaporizers, edibles, extracts, and other cannabis formats through brands including Spinach, PEACE NATURALS, and Lord Jones. Its products are distributed primarily through regulated cannabis channels, including provincial retail systems and medical or international markets where permitted by local laws.

Founded in 2013, Cronos has expanded through brand development, product innovation, and strategic partnerships.