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

Cronos Group Inc. (NASDAQ:CRON) has been assigned an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $2.30.

CRON has been the subject of a number of research analyst reports. Canaccord Genuity Group started coverage on shares of Cronos Group in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Weiss Ratings lowered shares of Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. TD Securities began coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They set a “buy” rating for the company. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $2.30 price target on shares of Cronos Group in a report on Wednesday, January 14th.

Cronos Group Trading Down 1.2%

NASDAQ:CRON opened at $2.54 on Friday. The business’s fifty day moving average price is $2.59 and its 200 day moving average price is $2.60. The firm has a market capitalization of $955.73 million, a price-to-earnings ratio of -253.75 and a beta of 0.87. Cronos Group has a 1-year low of $1.84 and a 1-year high of $3.43.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%.The firm had revenue of $58.39 million during the quarter, compared to analyst estimates of $38.51 million. Equities analysts forecast that Cronos Group will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its position in Cronos Group by 2.0% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 204,741 shares of the company’s stock worth $512,000 after purchasing an additional 3,985 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Cronos Group by 10.4% during the 4th quarter. Virtu Financial LLC now owns 52,852 shares of the company’s stock valued at $139,000 after buying an additional 4,990 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Cronos Group by 19.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 32,631 shares of the company’s stock valued at $86,000 after buying an additional 5,349 shares in the last quarter. Headlands Technologies LLC increased its holdings in Cronos Group by 12.5% in the fourth quarter. Headlands Technologies LLC now owns 63,097 shares of the company’s stock worth $166,000 after buying an additional 6,998 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its holdings in Cronos Group by 169.7% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 16,371 shares of the company’s stock worth $42,000 after buying an additional 10,300 shares during the last quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.

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.