Cronos Group (NASDAQ:CRON) Rating Lowered to “Hold” at Wall Street Zen

Cronos Group (NASDAQ:CRON) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities analysts also recently commented on CRON. Weiss Ratings upgraded Cronos Group from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday. TD Securities reissued a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.30.

Cronos Group Stock Performance

Shares of CRON stock opened at $3.14 on Friday. Cronos Group has a fifty-two week low of $2.28 and a fifty-two week high of $3.43. The stock’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $2.69. The company has a market cap of $1.16 billion, a PE ratio of 15.70 and a beta of 0.90.

Cronos Group (NASDAQ:CRON) last released its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%.The firm had revenue of $53.01 million for the quarter, compared to analysts’ expectations of $44.20 million. On average, equities analysts predict that Cronos Group will post 0.07 EPS for the current fiscal year.

Institutional Trading of Cronos Group

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in Cronos Group by 291.6% in the first quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock valued at $118,000 after buying an additional 48,476 shares during the period. Goldman Sachs Group Inc. increased its stake in Cronos Group by 84.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock valued at $1,948,000 after purchasing an additional 493,161 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Cronos Group in the 2nd quarter valued at about $36,000. Legal & General Group Plc raised its stake in Cronos Group by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 195,368 shares of the company’s stock worth $374,000 after buying an additional 27,111 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Cronos Group by 192.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock worth $171,000 after acquiring an additional 59,013 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors and hedge funds.

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.