Cronos Group (NASDAQ:CRON) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Cronos Group (NASDAQ:CRON) in a research note issued on Tuesday. The brokerage set a “buy” rating on the stock.

CRON has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 29th. Sanford C. Bernstein reissued a “market perform” rating and set a $2.30 price objective on shares of Cronos Group in a research report on Wednesday, January 14th. Finally, Zacks Research lowered Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.30.

Cronos Group Trading Down 0.2%

NASDAQ:CRON traded down $0.01 during trading hours on Tuesday, reaching $2.69. The company had a trading volume of 156,864 shares, compared to its average volume of 1,283,926. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 26.85 and a beta of 0.70. The firm’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.52. Cronos Group has a 52 week low of $1.60 and a 52 week high of $3.43.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $36.34 million for the quarter, compared to the consensus estimate of $36.47 million. Cronos Group had a negative return on equity of 1.12% and a net margin of 27.27%. On average, analysts forecast that Cronos Group will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Cronos Group

Several institutional investors have recently made changes to their positions in CRON. Octavia Wealth Advisors LLC bought a new stake in shares of Cronos Group in the 4th quarter valued at approximately $28,000. Brooklyn Investment Group lifted its position in Cronos Group by 5,733.0% in the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after buying an additional 10,778 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in Cronos Group during the third quarter worth $31,000. Scientech Research LLC bought a new position in Cronos Group during the third quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Cronos Group in the second quarter valued at $33,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

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.