Cronos Group (NASDAQ:CRON) Sees Unusually-High Trading Volume – Should You Buy?

Cronos Group Inc. (NASDAQ:CRON) shares saw unusually-high trading volume on Monday . Approximately 1,368,603 shares were traded during trading, a decline of 32% from the previous session’s volume of 2,024,639 shares.The stock last traded at $3.1150 and had previously closed at $3.27.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRON. Wall Street Zen raised Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Cronos Group in a report on Monday, December 8th. Finally, Zacks Research upgraded shares of Cronos Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy”.

Cronos Group Price Performance

The stock has a 50 day moving average price of $2.52 and a two-hundred day moving average price of $2.35. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 30.55 and a beta of 0.66.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.07 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 analyst estimates of $36.47 million. Cronos Group had a net margin of 27.27% and a negative return on equity of 1.12%. Sell-side analysts forecast that Cronos Group Inc. will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Nuveen LLC bought a new stake in shares of Cronos Group during the first quarter worth $341,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Cronos Group during the 2nd quarter worth approximately $1,767,000. Quinn Opportunity Partners LLC raised its stake in shares of Cronos Group by 73.0% during the second quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock worth $14,206,000 after buying an additional 3,138,018 shares during the last quarter. Bastion Asset Management Inc. bought a new stake in shares of Cronos Group during the second quarter worth approximately $619,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Cronos Group by 161.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,000 shares of the company’s stock valued at $240,000 after buying an additional 77,200 shares during the period. Institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.