Cronos Group (NASDAQ:CRON) Hits New 12-Month High – Should You Buy?

Cronos Group Inc. (NASDAQ:CRON)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $2.59 and last traded at $2.56, with a volume of 536609 shares changing hands. The stock had previously closed at $2.30.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Cronos Group from a “hold” rating to a “sell” rating in a research note on Saturday.

Cronos Group Stock Down 4.1%

The firm has a 50 day moving average of $2.03 and a 200 day moving average of $1.94. The firm has a market cap of $982.55 million, a PE ratio of 51.20 and a beta of 1.01.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The firm had revenue of $33.46 million during the quarter, compared to the consensus estimate of $45.73 million. Cronos Group had a negative return on equity of 3.78% and a net margin of 14.19%. On average, research analysts anticipate that Cronos Group Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its holdings in shares of Cronos Group by 2.1% during the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company’s stock worth $562,000 after purchasing an additional 5,637 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Cronos Group by 140.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company’s stock worth $28,000 after buying an additional 8,019 shares during the period. Kerrisdale Advisers LLC lifted its holdings in shares of Cronos Group by 2.3% during the fourth quarter. Kerrisdale Advisers LLC now owns 468,786 shares of the company’s stock valued at $947,000 after purchasing an additional 10,539 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Cronos Group by 53.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,800 shares of the company’s stock valued at $86,000 after purchasing an additional 16,700 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Cronos Group during the second quarter valued at approximately $36,000. Institutional investors own 8.71% of the company’s stock.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.