Castle Rock Wealth Management LLC grew its holdings in Cronos Group Inc (NASDAQ:CRON) by 41.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,551 shares of the company’s stock after purchasing an additional 5,986 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Cronos Group were worth $332,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Oakworth Capital Inc. purchased a new position in shares of Cronos Group in the 1st quarter worth approximately $30,000. Focused Wealth Management Inc grew its position in shares of Cronos Group by 48.5% in the 1st quarter. Focused Wealth Management Inc now owns 1,849 shares of the company’s stock worth $34,000 after buying an additional 604 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Cronos Group in the 1st quarter worth approximately $40,000. Joseph P. Lucia & Associates LLC purchased a new stake in Cronos Group during the 2nd quarter worth approximately $35,000. Finally, Meridian Wealth Management LLC purchased a new stake in Cronos Group during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 11.63% of the company’s stock.
Shares of CRON traded up $0.05 during trading hours on Friday, hitting $11.43. The stock had a trading volume of 8,596 shares, compared to its average volume of 3,636,484. The firm has a 50-day moving average price of $12.61 and a 200 day moving average price of $15.99. Cronos Group Inc has a fifty-two week low of $6.50 and a fifty-two week high of $25.10. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -142.56 and a beta of 3.55.
Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Cronos Group had a net margin of 2,521.25% and a return on equity of 60.20%. The firm had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $7.16 million. Cronos Group’s quarterly revenue was up 217.6% on a year-over-year basis. As a group, research analysts expect that Cronos Group Inc will post -0.07 EPS for the current fiscal year.
Several analysts have weighed in on the stock. Piper Jaffray Companies assumed coverage on shares of Cronos Group in a research report on Monday, August 12th. They set an “overweight” rating and a $18.00 target price on the stock. BMO Capital Markets raised shares of Cronos Group from an “underperform” rating to a “market perform” rating in a research report on Thursday, September 5th. Stifel Nicolaus assumed coverage on shares of Cronos Group in a research report on Wednesday, June 5th. They set a “hold” rating on the stock. 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 research report on Friday, August 9th. Finally, Consumer Edge assumed coverage on shares of Cronos Group in a research report on Friday, June 28th. They set an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.62.
Cronos Group Profile
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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