Cronos Group Inc. (NASDAQ:CRON) Given Consensus Recommendation of “Hold” by Brokerages

Cronos Group Inc. (NASDAQ:CRON) has been assigned an average rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $2.30.

A number of research firms have issued reports on CRON. Wall Street Zen upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. TD Securities restated a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Cronos Group in a report on Friday, May 29th.

Cronos Group Stock Down 1.8%

Cronos Group stock opened at $2.74 on Thursday. Cronos Group has a 52 week low of $1.84 and a 52 week high of $3.43. The firm’s 50-day simple moving average is $2.67 and its 200 day simple moving average is $2.65. The firm has a market capitalization of $1.02 billion, a PE ratio of 274.27 and a beta of 0.89.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $58.97 million for the quarter, compared to analyst estimates of $42.20 million. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. On average, research analysts expect that Cronos Group will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. AdvisorShares Investments LLC increased its stake in shares of Cronos Group by 38.1% during the 3rd quarter. AdvisorShares Investments LLC now owns 816,068 shares of the company’s stock valued at $2,269,000 after acquiring an additional 225,000 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Cronos Group by 50.2% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 1,383,776 shares of the company’s stock valued at $3,827,000 after acquiring an additional 462,294 shares during the last quarter. 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 valued at $7,262,000 after acquiring an additional 991,977 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Cronos Group during the 3rd quarter valued at about $751,000. Finally, Empirical Asset Management LLC acquired a new position in shares of Cronos Group during the 3rd quarter valued at about $70,000. Institutional investors and hedge funds 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.