Quinn Opportunity Partners LLC Sells 5,965,662 Shares of Cronos Group Inc. $CRON

Quinn Opportunity Partners LLC lessened its holdings in shares of Cronos Group Inc. (NASDAQ:CRON) by 80.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,472,282 shares of the company’s stock after selling 5,965,662 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.38% of Cronos Group worth $4,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CRON. Envestnet Asset Management Inc. purchased a new position in Cronos Group during the second quarter valued at approximately $36,000. Empirical Asset Management LLC purchased a new stake in shares of Cronos Group in the third quarter worth $70,000. Quadrature Capital Ltd purchased a new stake in shares of Cronos Group in the second quarter worth $70,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Cronos Group during the 2nd quarter valued at $92,000. Finally, Jones Financial Companies Lllp raised its position in shares of Cronos Group by 291.6% during the 1st quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock valued at $118,000 after purchasing an additional 48,476 shares during the period. Institutional investors own 8.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Sanford C. Bernstein reissued a “market perform” rating and set a $2.30 price target on shares of Cronos Group in a report on Wednesday, January 14th. Wall Street Zen upgraded Cronos Group from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Canaccord Genuity Group began coverage on Cronos Group in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Finally, Weiss Ratings cut Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.30.

Cronos Group Price Performance

NASDAQ:CRON opened at $2.50 on Friday. The company has a market cap of $950.40 million, a price-to-earnings ratio of -249.75 and a beta of 0.78. Cronos Group Inc. has a 1 year low of $1.60 and a 1 year high of $3.43. The stock’s 50 day simple moving average is $2.62 and its two-hundred day simple moving average is $2.60.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, February 26th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%.The firm had revenue of $58.39 million during the quarter, compared to the consensus estimate of $38.51 million. As a group, analysts anticipate that Cronos Group Inc. will post -0.03 EPS for the current year.

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.