Cronos Group Inc. (NASDAQ:CRON) Given Average Rating of “Hold” by Brokerages

Shares of Cronos Group Inc. (NASDAQ:CRON) have been given a consensus rating of “Hold” by the five analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $2.30.

A number of research firms recently issued reports on CRON. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. TD Securities started coverage on Cronos Group in a research report on Tuesday. They set a “buy” rating on the stock. Canaccord Genuity Group assumed coverage on Cronos Group in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Zacks Research cut shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, February 14th.

Hedge Funds Weigh In On Cronos Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC increased its holdings in Cronos Group by 10.4% in the 4th quarter. Virtu Financial LLC now owns 52,852 shares of the company’s stock valued at $139,000 after buying an additional 4,990 shares during the period. Pillsbury Lake Capital LLC acquired a new stake in shares of Cronos Group during the 4th quarter worth approximately $4,837,000. Jump Financial LLC bought a new position in Cronos Group in the fourth quarter valued at approximately $42,000. Eschler Asset Management LLP acquired a new position in Cronos Group during the fourth quarter valued at approximately $379,000. Finally, Headlands Technologies LLC lifted its stake in Cronos Group by 12.5% during the fourth quarter. Headlands Technologies LLC now owns 63,097 shares of the company’s stock worth $166,000 after purchasing an additional 6,998 shares during the last quarter. Institutional investors own 8.71% of the company’s stock.

Cronos Group Stock Up 1.3%

Shares of CRON stock opened at $2.68 on Tuesday. Cronos Group has a 12 month low of $1.60 and a 12 month high of $3.43. The company’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $2.60. The firm has a market cap of $1.02 billion, a PE ratio of 26.99 and a beta of 0.80.

Cronos Group Company Profile

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.