Cronos Group (NASDAQ:CRON) Stock Rating Upgraded by Wall Street Zen

Cronos Group (NASDAQ:CRON) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.30 price target on shares of Cronos Group in a research note on Wednesday, January 14th. Canaccord Genuity Group began coverage on shares of Cronos Group in a research note on Tuesday, January 27th. They issued a “buy” rating on the stock. TD Securities began coverage on shares of Cronos Group in a report on Tuesday, February 24th. They issued a “buy” rating for the company. Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings cut Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.30.

Cronos Group Stock Down 1.9%

CRON opened at $2.52 on Friday. Cronos Group has a 52 week low of $1.60 and a 52 week high of $3.43. The business’s 50 day moving average is $2.63 and its two-hundred day moving average is $2.60. The firm has a market cap of $958.00 million, a price-to-earnings ratio of -251.75 and a beta of 0.78.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $58.39 million during the quarter, compared to the consensus estimate of $38.51 million. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%. Equities analysts expect that Cronos Group will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Cronos Group

Several institutional investors have recently bought and sold shares of CRON. Quinn Opportunity Partners LLC lifted its stake in shares of Cronos Group by 73.0% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock worth $14,206,000 after acquiring an additional 3,138,018 shares during the period. Pillsbury Lake Capital LLC purchased a new stake in shares of Cronos Group in the fourth quarter valued at about $4,837,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Cronos Group by 1,135.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock worth $3,075,000 after acquiring an additional 1,018,448 shares during the period. MMCAP International Inc. SPC raised its holdings in Cronos Group by 56.1% during the fourth quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock worth $7,262,000 after purchasing an additional 991,977 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Cronos Group in the second quarter valued at about $1,767,000. 8.71% of the stock is owned by institutional investors and hedge funds.

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.