Cronos Group (NASDAQ:CRON) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cronos Group (NASDAQ:CRON) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other equities analysts have also recently commented on the company. Weiss Ratings cut Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. TD Securities restated a “buy” rating on shares of Cronos Group in a research report on Tuesday. Finally, Canaccord Genuity Group assumed coverage on shares of Cronos Group in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. Two research 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.30.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $2.63 on Friday. The business has a 50 day simple moving average of $2.59 and a two-hundred day simple moving average of $2.61. Cronos Group has a 12 month low of $1.84 and a 12 month high of $3.43. The stock has a market capitalization of $989.59 million, a P/E ratio of 263.26 and a beta of 0.87.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%.The business had revenue of $58.97 million during the quarter, compared to analysts’ expectations of $42.20 million. As a group, research analysts anticipate that Cronos Group will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its holdings in shares of Cronos Group by 5.3% in the second quarter. Tidal Investments LLC now owns 5,653,070 shares of the company’s stock valued at $10,797,000 after purchasing an additional 282,356 shares during the last quarter. MMCAP International Inc. SPC increased its holdings in shares of Cronos Group by 56.1% in the fourth quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after purchasing an additional 991,977 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cronos Group by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,679,051 shares of the company’s stock valued at $6,724,000 after purchasing an additional 172,841 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Cronos Group by 8.9% in the first quarter. Renaissance Technologies LLC now owns 2,009,549 shares of the company’s stock valued at $5,044,000 after purchasing an additional 164,500 shares during the last quarter. Finally, Pillsbury Lake Capital LLC acquired a new stake in shares of Cronos Group in the fourth quarter valued at approximately $4,837,000. 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.