Cronos Group Inc (NASDAQ:CRON) has been given a consensus rating of “Hold” by the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.71.
CRON has been the subject of several research reports. ValuEngine raised Cronos Group from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. MKM Partners assumed coverage on shares of Cronos Group in a report on Thursday, September 19th. They issued a “neutral” rating and a $14.00 price target for the company. Piper Jaffray Companies reduced their price objective on shares of Cronos Group from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus upgraded Cronos Group from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $16.50 to $14.00 in a research report on Friday, October 18th. Finally, Zacks Investment Research downgraded shares of Cronos Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.
CRON opened at $6.71 on Monday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -83.88 and a beta of 3.20. Cronos Group has a 1-year low of $6.04 and a 1-year high of $25.10. The business has a 50 day moving average price of $7.67 and a two-hundred day moving average price of $11.77.
Several institutional investors have recently modified their holdings of the company. Captrust Financial Advisors grew its stake in Cronos Group by 7,925.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,605 shares of the company’s stock valued at $26,000 after buying an additional 1,585 shares during the last quarter. Commonwealth Bank of Australia bought a new stake in Cronos Group during the second quarter valued at about $29,000. US Bancorp DE boosted its holdings in Cronos Group by 90.9% during the second quarter. US Bancorp DE now owns 2,100 shares of the company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Resources Investment Advisors LLC. bought a new stake in Cronos Group during the second quarter valued at about $38,000. Finally, Executive Wealth Management LLC grew its position in shares of Cronos Group by 330.6% in the second quarter. Executive Wealth Management LLC now owns 2,670 shares of the company’s stock valued at $43,000 after purchasing an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 11.60% 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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