Cronos Group (NASDAQ:CRON) Stock Rating Upgraded by Zacks Research

Cronos Group (NASDAQ:CRON) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

CRON has been the topic of several other research reports. Wall Street Zen lowered shares of Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Cronos Group presently has an average rating of “Buy” and an average price target of $2.30.

Cronos Group Stock Down 2.6%

NASDAQ:CRON opened at $3.35 on Thursday. Cronos Group has a 12-month low of $2.28 and a 12-month high of $3.61. The firm has a market capitalization of $1.23 billion, a PE ratio of 16.75 and a beta of 0.90. The firm has a 50-day moving average price of $3.29 and a 200 day moving average price of $2.94.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $53.01 million during the quarter, compared to analysts’ expectations of $44.20 million. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. On average, research analysts expect that Cronos Group will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Cronos Group

A number of hedge funds have recently added to or reduced their stakes in CRON. Cibc World Market Inc. acquired a new stake in shares of Cronos Group in the 2nd quarter valued at $3,820,000. Pillsbury Lake Capital LLC bought a new stake in shares of Cronos Group during the second quarter worth $2,252,253. Parallax Volatility Advisers L.P. acquired a new position in shares of Cronos Group during the second quarter valued at $834,000. Bank of America Corp DE acquired a new position in shares of Cronos Group during the second quarter valued at $438,000. Finally, Legal & General Group Plc acquired a new position in shares of Cronos Group during the second quarter valued at $485,000. Institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc is a Canadian cannabinoid company focused on developing, producing and commercializing cannabis and cannabis-derived consumer products. The company serves adult-use and medical cannabis markets through a portfolio of brands and sells products such as dried flower, pre-rolls, vaporizers, edibles, oils and other cannabis formats, subject to applicable regulations.

Its brand portfolio has included Spinach, which is positioned primarily in the adult-use cannabis market, as well as Lord Jones and PEACE NATURALS.