Cronos Group Inc (TSE:CRON) Receives Average Recommendation of “Hold” from Brokerages
Cronos Group Inc (TSE:CRON) has received a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$20.56.
A number of equities analysts have issued reports on CRON shares. Canaccord Genuity raised Cronos Group from a “sell” rating to a “hold” rating and increased their price target for the company from C$16.00 to C$17.00 in a research note on Friday, August 9th. Cowen decreased their price target on Cronos Group from C$21.00 to C$17.00 in a research note on Tuesday, September 3rd. Bank of America raised Cronos Group from an “underperform” rating to a “buy” rating and increased their price target for the company from C$17.00 to C$27.00 in a research note on Wednesday, June 5th. Finally, BMO Capital Markets raised Cronos Group from an “underperform” rating to a “market perform” rating and set a C$16.00 price target for the company in a research note on Thursday, September 5th.
TSE CRON traded down C$0.90 on Friday, reaching C$13.65. 782,659 shares of the stock traded hands, compared to its average volume of 1,601,049. The firm’s fifty day simple moving average is C$16.17 and its 200 day simple moving average is C$20.89. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.89 billion and a price-to-earnings ratio of 19.24. Cronos Group has a 12 month low of C$8.47 and a 12 month high of C$32.95.
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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