Zacks Investment Research Upgrades Cronos Group (CRON) to Hold

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Cronos Group (NASDAQ:CRON) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Cronos Group, Inc. engages in the investment in firms which are licensed to produce and sell medical marijuana. Its portfolio includes In The Zone, Peace Naturals, Whistler Medical Marijuana Co., ABcann, Hydropothecary, Vert Medical and Evergreen Medicinal Supply. Cronos Group Inc., formerly known as PharmaCan Capital Corp., is headquartered in Toronto, Canada. “

Several other equities research analysts have also recently issued reports on CRON. GMP Securities reaffirmed a “buy” rating on shares of Cronos Group in a research note on Monday, November 19th. Canaccord Genuity reiterated an “average” rating and set a $9.00 price target on shares of Cronos Group in a report on Thursday, November 15th. Finally, CIBC initiated coverage on Cronos Group in a report on Friday, January 18th. They set a “sector outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Cronos Group presently has an average rating of “Hold” and an average price target of $7.58.

CRON traded down $0.11 on Monday, hitting $19.44. 22,989,935 shares of the company’s stock were exchanged, compared to its average volume of 21,460,262. Cronos Group has a fifty-two week low of $5.12 and a fifty-two week high of $25.10. The stock has a market cap of $3.49 billion and a PE ratio of 1,944.00.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Tuesday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Cronos Group had a negative return on equity of 3.22% and a negative net margin of 45.72%. The business had revenue of $3.76 million for the quarter, compared to analyst estimates of $3.56 million. The firm’s revenue was up 187.0% on a year-over-year basis. On average, sell-side analysts predict that Cronos Group will post -0.04 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of CRON. Virtu Financial LLC purchased a new stake in Cronos Group in the 4th quarter valued at about $779,000. First Command Bank purchased a new stake in Cronos Group in the 4th quarter valued at about $28,000. Private Advisor Group LLC purchased a new stake in Cronos Group in the 3rd quarter valued at about $206,000. FNY Investment Advisers LLC purchased a new stake in Cronos Group in the 3rd quarter valued at about $111,000. Finally, Exane Derivatives purchased a new stake in Cronos Group in the 3rd quarter valued at about $123,000. Institutional investors and hedge funds own 13.61% of the company’s stock.

About Cronos Group

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations ?MMPR?. The firm typically invests in companies based in Canada.

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