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

Shares of Cronos Group Inc. (NASDAQ:CRON) have received an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. Three 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 objective among brokers that have updated their coverage on the stock in the last year is $2.30.

CRON has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cronos Group in a report on Monday, December 29th. Canaccord Genuity Group initiated coverage on shares of Cronos Group in a report on Tuesday, January 27th. They set a “buy” rating for the company. TD Securities began coverage on shares of Cronos Group in a research note on Tuesday. They set a “buy” rating on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $2.30 price objective on shares of Cronos Group in a report on Wednesday, January 14th. Finally, Wall Street Zen raised Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, February 14th.

Institutional Trading of Cronos Group

A number of institutional investors have recently bought and sold shares of the business. Quinn Opportunity Partners LLC lifted its position in Cronos Group by 73.0% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock valued at $14,206,000 after acquiring an additional 3,138,018 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Cronos Group by 5.3% in the 2nd quarter. Tidal Investments LLC now owns 5,653,070 shares of the company’s stock valued at $10,797,000 after purchasing an additional 282,356 shares during the period. MMCAP International Inc. SPC lifted its holdings in shares of Cronos Group by 56.1% in the fourth quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after purchasing an additional 991,977 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cronos Group by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,506,210 shares of the company’s stock valued at $6,591,000 after purchasing an additional 32,202 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Cronos Group by 4.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,845,049 shares of the company’s stock worth $4,852,000 after buying an additional 70,500 shares during the period. Institutional investors and hedge funds own 8.71% of the company’s stock.

Cronos Group Stock Up 1.3%

Shares of CRON stock opened at $2.68 on Tuesday. The company has a market cap of $1.02 billion, a P/E ratio of 26.99 and a beta of 0.80. Cronos Group has a 52 week low of $1.60 and a 52 week high of $3.43. The business has a 50 day moving average of $2.67 and a two-hundred day moving average of $2.60.

About Cronos Group

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.