Cronos Group (NASDAQ:CRON) Rating Lowered to Hold at Zacks Research

Cronos Group (NASDAQ:CRON) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Cronos Group currently has a consensus rating of “Hold”.

Cronos Group Stock Down 0.7%

NASDAQ:CRON opened at $2.67 on Tuesday. Cronos Group has a 12-month low of $1.60 and a 12-month high of $3.43. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 26.70 and a beta of 0.70. The stock’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $2.45.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, November 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $36.34 million during the quarter, compared to the consensus estimate of $36.47 million. Cronos Group had a negative return on equity of 1.12% and a net margin of 27.27%. Equities research analysts expect that Cronos Group will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Cronos Group

Several institutional investors have recently made changes to their positions in CRON. Tudor Investment Corp ET AL acquired a new stake in Cronos Group during the third quarter worth approximately $40,000. Swiss Life Asset Management Ltd acquired a new position in Cronos Group in the 3rd quarter valued at $31,000. Cambria Investment Management L.P. lifted its position in shares of Cronos Group by 15.0% during the 3rd quarter. Cambria Investment Management L.P. now owns 324,502 shares of the company’s stock valued at $902,000 after acquiring an additional 42,412 shares during the period. Sender Co & Partners Inc. acquired a new stake in shares of Cronos Group during the 3rd quarter worth $35,000. Finally, Scientech Research LLC acquired a new stake in shares of Cronos Group during the 3rd quarter worth $32,000. 8.71% of the stock is currently owned by institutional investors.

About Cronos Group

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group’s business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company’s branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.