Cronos Group (NASDAQ:CRON) Stock Rating Upgraded by Wall Street Zen

Cronos Group (NASDAQ:CRON) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group assumed coverage on Cronos Group in a report on Tuesday, January 27th. They set a “buy” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $2.30 target price on shares of Cronos Group in a research report on Wednesday, January 14th. Finally, Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.30.

Cronos Group Stock Performance

NASDAQ CRON opened at $2.60 on Friday. Cronos Group has a one year low of $1.60 and a one year high of $3.43. The company has a 50-day simple moving average of $2.70 and a 200-day simple moving average of $2.57. The firm has a market capitalization of $988.42 million, a PE ratio of 26.00 and a beta of 0.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRON. Headlands Technologies LLC increased its holdings in shares of Cronos Group by 12.5% during the fourth quarter. Headlands Technologies LLC now owns 63,097 shares of the company’s stock valued at $166,000 after purchasing an additional 6,998 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Cronos Group during the 4th quarter valued at about $196,000. Oasis Management Co Ltd. bought a new stake in shares of Cronos Group during the 4th quarter worth about $2,409,000. Federation des caisses Desjardins du Quebec raised its position in shares of Cronos Group by 169.7% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 16,371 shares of the company’s stock worth $42,000 after buying an additional 10,300 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Cronos Group by 4.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,845,049 shares of the company’s stock worth $4,852,000 after acquiring an additional 70,500 shares during the period. Institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group’s business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company’s branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.