Janney Montgomery Scott LLC Purchases New Holdings in Cronos Group Inc (CRON)
Janney Montgomery Scott LLC purchased a new stake in Cronos Group Inc (NASDAQ:CRON) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,203 shares of the company’s stock, valued at approximately $169,000.
Several other large investors have also recently added to or reduced their stakes in CRON. FNY Investment Advisers LLC bought a new stake in shares of Cronos Group in the 3rd quarter valued at about $111,000. Tower Research Capital LLC TRC boosted its holdings in shares of Cronos Group by 10,393.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,419 shares of the company’s stock valued at $114,000 after buying an additional 17,253 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Cronos Group in the 3rd quarter valued at about $116,000. Oppenheimer & Co. Inc. bought a new stake in shares of Cronos Group in the 3rd quarter valued at about $121,000. Finally, Exane Derivatives bought a new stake in shares of Cronos Group in the 3rd quarter valued at about $123,000. Institutional investors and hedge funds own 12.42% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Cronos Group from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Tuesday, November 6th. Cann initiated coverage on shares of Cronos Group in a research report on Friday, October 12th. They issued a “sell” rating and a $4.50 price objective for the company. Canaccord Genuity raised shares of Cronos Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, GMP Securities reaffirmed a “buy” rating on shares of Cronos Group in a research report on Monday, November 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.58.
Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $3.76 million during the quarter, compared to analysts’ expectations of $3.56 million. Cronos Group had a negative net margin of 45.72% and a negative return on equity of 3.22%. The firm’s quarterly revenue was up 187.0% on a year-over-year basis. On average, equities analysts expect that Cronos Group Inc will post -0.04 EPS for the current fiscal year.
Cronos Group Profile
Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations MMPR. The firm typically invests in companies based in Canada.
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