Cibc World Market Inc. Invests $3.82 Million in Cronos Group Inc. $CRON

Cibc World Market Inc. acquired a new stake in Cronos Group Inc. (NASDAQ:CRON) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,383,299 shares of the company’s stock, valued at approximately $3,820,000. Cibc World Market Inc. owned 0.37% of Cronos Group as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new stake in Cronos Group in the second quarter worth about $29,000. Brooklyn Investment Group boosted its position in shares of Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after purchasing an additional 10,778 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Cronos Group during the 4th quarter valued at about $30,000. Scientech Research LLC acquired a new position in shares of Cronos Group in the 3rd quarter worth approximately $32,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of Cronos Group in the 3rd quarter worth approximately $35,000. Institutional investors own 8.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. TD Securities reiterated a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Cronos Group from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Cronos Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.30.

Cronos Group Stock Up 1.1%

Shares of NASDAQ CRON opened at $3.55 on Thursday. Cronos Group Inc. has a 12 month low of $2.28 and a 12 month high of $3.58. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 17.75 and a beta of 0.90. The business has a fifty day simple moving average of $2.92 and a 200-day simple moving average of $2.74.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $53.01 million during the quarter, compared to analyst estimates of $44.20 million. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. As a group, sell-side analysts expect that Cronos Group Inc. will post 0.11 EPS for the current fiscal year.

Cronos Group 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.