Cronos Group (NASDAQ:CRON) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Cronos Group (NASDAQ:CRON) from a hold rating to a sell rating in a research note published on Saturday.

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

Cronos Group Stock Down 3.1%

NASDAQ:CRON opened at $2.51 on Friday. The firm has a 50-day moving average price of $2.67 and a 200 day moving average price of $2.53. The firm has a market capitalization of $957.79 million, a PE ratio of 25.10 and a beta of 0.70. Cronos Group has a 12-month low of $1.60 and a 12-month high of $3.43.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. Cronos Group had a net margin of 27.27% and a negative return on equity of 1.12%. The company had revenue of $36.34 million during the quarter, compared to analyst estimates of $36.47 million. On average, research analysts expect that Cronos Group will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Cronos Group

Hedge funds have recently bought and sold shares of the business. Octavia Wealth Advisors LLC bought a new position in Cronos Group during the 4th quarter valued at about $28,000. Brooklyn Investment Group increased its position in Cronos Group by 5,733.0% in the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after buying an additional 10,778 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in Cronos Group in the 3rd quarter worth approximately $31,000. Scientech Research LLC purchased a new stake in shares of Cronos Group in the third quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new stake in Cronos Group in the 2nd quarter worth $33,000. 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.