Cronos Group (TSE:CRON) Stock Price Up 14.2% – Here’s Why

Cronos Group Inc. (TSE:CRON) shares rose 14.2% on Thursday . The stock traded as high as C$4.34 and last traded at C$4.34. Approximately 494,519 shares traded hands during trading, an increase of 198% from the average daily volume of 166,217 shares. The stock had previously closed at C$3.80.

Wall Street Analysts Forecast Growth

Separately, TD raised their target price on shares of Cronos Group from C$4.50 to C$5.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$4.75.

Cronos Group Stock Up 12.6%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 24.01 and a current ratio of 21.87. The company’s fifty day moving average price is C$3.90 and its 200-day moving average price is C$3.70. The stock has a market cap of C$1.60 billion, a P/E ratio of -188.00, a price-to-earnings-growth ratio of 0.12 and a beta of 1.13.

Cronos Group (TSE:CRON) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.06 EPS for the quarter. Cronos Group had a negative net margin of 1.29% and a negative return on equity of 0.19%. The company had revenue of C$62.86 million for the quarter. Equities analysts forecast that Cronos Group Inc. will post -0.26 EPS for the current year.

Cronos Group Company Profile

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.