Hillsdale Investment Management Inc. Trims Stock Position in Cronos Group Inc. $CRON

Hillsdale Investment Management Inc. cut its holdings in shares of Cronos Group Inc. (NASDAQ:CRON) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 997,180 shares of the company’s stock after selling 386,596 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.26% of Cronos Group worth $2,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CRON. AdvisorShares Investments LLC grew its stake in Cronos Group by 38.1% during the 3rd quarter. AdvisorShares Investments LLC now owns 816,068 shares of the company’s stock valued at $2,269,000 after purchasing an additional 225,000 shares in the last quarter. MMCAP International Inc. SPC grew its stake in Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after purchasing an additional 991,977 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Cronos Group during the 3rd quarter valued at approximately $751,000. Empirical Asset Management LLC acquired a new stake in Cronos Group during the 3rd quarter valued at approximately $70,000. Finally, State of Wyoming acquired a new stake in Cronos Group during the 3rd quarter valued at approximately $341,000. 8.71% of the stock is currently owned by hedge funds and other institutional investors.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $2.84 on Monday. The business’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $2.63. The company has a market capitalization of $1.06 billion, a P/E ratio of 284.28 and a beta of 0.89. Cronos Group Inc. has a 1-year low of $1.84 and a 1-year high of $3.43.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%.The firm had revenue of $58.97 million for the quarter, compared to the consensus estimate of $42.20 million. On average, research analysts expect that Cronos Group Inc. will post 0.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRON has been the topic of a number of research analyst reports. Weiss Ratings downgraded Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Finally, Wall Street Zen raised Cronos Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.30.

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.