Cronos Group Inc (CRON) Sees Large Drop in Short Interest
Cronos Group Inc (NASDAQ:CRON) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 21,174,013 shares, a decline of 9.7% from the February 15th total of 23,460,380 shares. Based on an average daily trading volume, of 14,162,600 shares, the short-interest ratio is currently 1.5 days.
A number of large investors have recently made changes to their positions in CRON. Private Advisor Group LLC bought a new position in Cronos Group in the third quarter valued at approximately $206,000. Stratos Wealth Partners LTD. bought a new position in Cronos Group in the third quarter valued at approximately $116,000. Cambridge Investment Research Advisors Inc. increased its stake in Cronos Group by 173.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 34,201 shares of the company’s stock valued at $380,000 after acquiring an additional 21,671 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Cronos Group in the third quarter valued at approximately $169,000. Finally, Global Financial Private Capital LLC bought a new position in Cronos Group in the third quarter valued at approximately $129,000. 13.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:CRON opened at $21.14 on Thursday. The company has a market capitalization of $3.99 billion and a P/E ratio of 2,114.00. Cronos Group has a 1 year low of $5.12 and a 1 year high of $25.10.
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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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