Cronos Group (NASDAQ:CRON) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Cronos Group, Inc. engages in the investment in firms which are licensed to produce and sell medical marijuana. Its portfolio includes In The Zone, Peace Naturals, Whistler Medical Marijuana Co., ABcann, Hydropothecary, Vert Medical and Evergreen Medicinal Supply. Cronos Group Inc., formerly known as PharmaCan Capital Corp., is headquartered in Toronto, Canada. “

Other research analysts have also recently issued reports about the stock. Canaccord Genuity restated an “average” rating and issued a $9.00 price target on shares of Cronos Group in a report on Thursday, November 15th. GMP Securities cut shares of Cronos Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Finally, CIBC began coverage on shares of Cronos Group in a report on Friday, January 18th. They issued a “sector outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $7.58.

Shares of NASDAQ CRON traded down $0.11 during mid-day trading on Monday, reaching $19.44. The company had a trading volume of 22,989,935 shares, compared to its average volume of 21,460,262. The stock has a market cap of $3.49 billion and a PE ratio of 1,944.00. Cronos Group has a 52 week low of $5.12 and a 52 week high of $25.10.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings results on Tuesday, November 13th. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $3.76 million during the quarter, compared to the consensus estimate of $3.56 million. Cronos Group had a negative return on equity of 3.22% and a negative net margin of 45.72%. The business’s revenue was up 187.0% compared to the same quarter last year. Research analysts forecast that Cronos Group will post -0.04 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CRON. Advisor Group Inc. grew its stake in shares of Cronos Group by 21.4% during the 4th quarter. Advisor Group Inc. now owns 33,171 shares of the company’s stock worth $344,000 after purchasing an additional 5,846 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Cronos Group by 50.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 126,346 shares of the company’s stock worth $1,312,000 after purchasing an additional 42,280 shares during the period. Private Advisor Group LLC grew its stake in shares of Cronos Group by 28.1% during the 4th quarter. Private Advisor Group LLC now owns 23,769 shares of the company’s stock worth $247,000 after purchasing an additional 5,218 shares during the period. Castle Rock Wealth Management LLC acquired a new stake in shares of Cronos Group during the 4th quarter worth approximately $341,000. Finally, National Asset Management Inc. acquired a new stake in shares of Cronos Group during the 4th quarter worth approximately $119,000. Institutional investors own 13.61% of the company’s stock.

Cronos Group Company 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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