Cronos Group (TSE:CRON) Shares Up 1.6% – Here’s What Happened

Cronos Group Inc. (TSE:CRON) shares shot up 1.6% during mid-day trading on Tuesday . The stock traded as high as C$3.85 and last traded at C$3.81. 88,037 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 177,427 shares. The stock had previously closed at C$3.75.

Analyst Upgrades and Downgrades

CRON has been the topic of several research analyst reports. TD Securities set a C$4.50 target price on shares of Cronos Group and gave the stock a “buy” rating in a report on Tuesday, February 24th. TD raised their price objective on shares of Cronos Group from C$4.50 to C$5.50 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$4.75.

Cronos Group Stock Up 1.6%

The company has a debt-to-equity ratio of 0.12, a current ratio of 21.87 and a quick ratio of 24.01. The company has a market capitalization of C$1.42 billion, a price-to-earnings ratio of -188.00, a PEG ratio of 0.12 and a beta of 1.13. The firm has a 50-day moving average price of C$3.73 and a two-hundred day moving average price of C$3.67.

Cronos Group (TSE:CRON) last announced its earnings results on Monday, May 11th. The company reported C$0.06 earnings per share (EPS) for the quarter. The business had revenue of C$62.86 million for the quarter. Cronos Group had a negative return on equity of 0.19% and a negative net margin of 1.29%. As a group, sell-side analysts anticipate that Cronos Group Inc. will post -0.26 earnings per share for the current fiscal year.

About Cronos Group

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S.