Brokerages Set Cronos Group Inc. (NASDAQ:CRON) Target Price at $2.30

Cronos Group Inc. (NASDAQ:CRON) has been given an average rating of “Hold” by the five research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $2.30.

A number of brokerages have recently issued reports on CRON. Wall Street Zen cut Cronos Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. TD Securities restated a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Cronos Group from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th.

Cronos Group Stock Performance

CRON stock opened at $3.41 on Tuesday. Cronos Group has a 52 week low of $2.28 and a 52 week high of $3.45. The firm’s fifty day moving average is $2.88 and its 200 day moving average is $2.72. The firm has a market cap of $1.26 billion, a P/E ratio of 17.05 and a beta of 0.90.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $53.01 million for the quarter, compared to analysts’ expectations of $44.20 million. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. As a group, analysts forecast that Cronos Group will post 0.11 EPS for the current year.

Institutional Trading of Cronos Group

A number of institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC grew its holdings in shares of Cronos Group by 69.0% in the second quarter. Concurrent Investment Advisors LLC now owns 19,623 shares of the company’s stock worth $55,000 after purchasing an additional 8,009 shares during the last quarter. Headlands Technologies LLC raised its holdings in Cronos Group by 60.0% during the 2nd quarter. Headlands Technologies LLC now owns 127,364 shares of the company’s stock valued at $354,000 after buying an additional 47,756 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Cronos Group during the 2nd quarter valued at $34,000. Cannell Capital LLC bought a new stake in Cronos Group during the 2nd quarter valued at $121,558,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Cronos Group during the 2nd quarter valued at $155,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

About Cronos Group

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.