Tidal Investments LLC Sells 259,043 Shares of Cronos Group Inc. $CRON

Tidal Investments LLC reduced its stake in Cronos Group Inc. (NASDAQ:CRON) by 6.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,767,849 shares of the company’s stock after selling 259,043 shares during the quarter. Tidal Investments LLC owned 1.02% of Cronos Group worth $10,475,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Pillsbury Lake Capital LLC bought a new stake in Cronos Group in the fourth quarter worth about $4,837,000. Cibc World Market Inc. bought a new position in shares of Cronos Group during the 2nd quarter valued at approximately $3,820,000. Arrowstreet Capital Limited Partnership grew its position in shares of Cronos Group by 1,135.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock valued at $3,075,000 after acquiring an additional 1,018,448 shares during the period. MMCAP International Inc. SPC increased its stake in shares of Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock worth $7,262,000 after purchasing an additional 991,977 shares during the last quarter. Finally, Oasis Management Co Ltd. purchased a new stake in shares of Cronos Group during the 4th quarter worth approximately $2,409,000. Institutional investors own 8.71% of the company’s stock.

Analyst Upgrades and Downgrades

CRON has been the topic of a number of research reports. Weiss Ratings cut shares of Cronos Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen downgraded Cronos Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.30.

Cronos Group Stock Down 0.6%

CRON opened at $3.14 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.70 and a beta of 0.94. The firm has a 50-day moving average price of $3.03 and a 200-day moving average price of $2.79. Cronos Group Inc. has a twelve month low of $2.28 and a twelve month high of $3.61.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.09 EPS for the quarter, beating 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%. On average, sell-side analysts expect that Cronos Group Inc. will post 0.11 earnings per share for the current fiscal 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.