Cronos Group Inc (NASDAQ:CRON) gapped down prior to trading on Thursday . The stock had previously closed at $13.67, but opened at $13.27. Cronos Group shares last traded at $12.17, with a volume of 6,400,905 shares traded.
CRON has been the topic of a number of research reports. Bank of America boosted their target price on shares of Cronos Group from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Zacks Investment Research downgraded shares of Cronos Group from a “buy” rating to a “hold” rating in a report on Monday. TheStreet upgraded shares of Cronos Group from a “d+” rating to a “c+” rating in a report on Tuesday, May 14th. Piper Jaffray Companies began coverage on shares of Cronos Group in a report on Monday. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, BMO Capital Markets restated a “sell” rating on shares of Cronos Group in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.62.
The stock’s fifty day moving average price is $14.60 and its 200-day moving average price is $17.18. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -152.13 and a beta of 3.43.
Cronos Group (NASDAQ:CRON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Cronos Group had a net margin of 2,521.25% and a return on equity of 84.04%. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $7.16 million. The business’s quarterly revenue was up 217.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cronos Group Inc will post 0.03 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in CRON. ACG Wealth purchased a new position in Cronos Group during the first quarter valued at approximately $210,000. Global Wealth Management Investment Advisory Inc. purchased a new position in Cronos Group during the first quarter valued at approximately $59,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Cronos Group during the first quarter valued at approximately $1,134,000. Sage Capital Advisors llc purchased a new position in Cronos Group during the first quarter valued at approximately $187,000. Finally, Hudock Capital Group LLC grew its position in Cronos Group by 8,816.0% during the first quarter. Hudock Capital Group LLC now owns 2,229 shares of the company’s stock valued at $41,000 after purchasing an additional 2,204 shares in the last quarter. Institutional investors and hedge funds own 8.51% of the company’s stock.
Cronos Group Company Profile (NASDAQ:CRON)
Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations MMPR. The firm typically invests in companies based in Canada.
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