Cronos Group Inc. (NASDAQ:CRON) Stock Has Consensus Price Target of $2.30 According to Analysts

Shares of Cronos Group Inc. (NASDAQ:CRON) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $2.30.

A number of research analysts have commented on the stock. TD Securities restated a “buy” rating on shares of Cronos Group in a research note on Monday, September 28th. Weiss Ratings upgraded Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Wall Street Zen cut Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $3.23 on Wednesday. Cronos Group has a 52-week low of $2.28 and a 52-week high of $3.61. The firm has a market capitalization of $1.19 billion, a PE ratio of 16.15 and a beta of 0.90. The company’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $2.89.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $53.01 million during the quarter, compared to the consensus estimate of $44.20 million. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. Analysts predict that Cronos Group will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRON. Squarepoint Ops LLC grew its holdings in shares of Cronos Group by 14.6% in the 2nd quarter. Squarepoint Ops LLC now owns 42,661 shares of the company’s stock worth $119,000 after purchasing an additional 5,441 shares during the last quarter. Spark Investment Management LLC bought a new position in Cronos Group during the 2nd quarter valued at about $77,000. Amundi lifted its holdings in Cronos Group by 14.8% during the 2nd quarter. Amundi now owns 24,728 shares of the company’s stock valued at $69,000 after purchasing an additional 3,180 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Cronos Group by 69.0% in the second quarter. Concurrent Investment Advisors LLC now owns 19,623 shares of the company’s stock valued at $55,000 after buying an additional 8,009 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in Cronos Group by 60.0% in the second quarter. Headlands Technologies LLC now owns 127,364 shares of the company’s stock valued at $354,000 after buying an additional 47,756 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors and hedge funds.

About Cronos Group

Cronos Group Inc is a Toronto-based cannabis company that develops, produces and distributes cannabis and cannabis-derived products. The company focuses on branded consumer products, including dried cannabis flower, pre-rolls, vaporizers, edibles and extracts.

Cronos markets products under brands such as Spinach, PEACE NATURALS and Lord Jones. Brand availability varies by market and product category, with the company serving regulated cannabis markets in Canada and pursuing international opportunities where permitted by local laws.

Founded in 2013, Cronos has expanded through brand development, acquisitions and strategic investments.