Cronos Group Inc. (NASDAQ:CRON) Given Average Rating of “Hold” by Analysts

Cronos Group Inc. (NASDAQ:CRON) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $2.30.

A number of research analysts have weighed in on the company. Weiss Ratings lowered Cronos Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Wall Street Zen downgraded Cronos Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th.

Cronos Group Price Performance

NASDAQ:CRON opened at $3.14 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of 15.70 and a beta of 0.94. The firm has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $2.79. Cronos Group has a 1-year low of $2.28 and a 1-year high of $3.61.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pure Financial Advisors LLC purchased a new position in shares of Cronos Group during the 2nd quarter worth about $28,000. OneDigital Investment Advisors LLC purchased a new stake in Cronos Group in the second quarter valued at approximately $29,000. Brooklyn Investment Group grew its holdings in Cronos Group by 5,733.0% in the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after purchasing an additional 10,778 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Cronos Group in the fourth quarter valued at approximately $30,000. Finally, Scientech Research LLC acquired a new position in Cronos Group during the third quarter worth approximately $32,000. Institutional investors and hedge funds 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.