Brokerages Set Cronos Group Inc. (NASDAQ:CRON) Target Price at $2.30

Shares of Cronos Group Inc. (NASDAQ:CRON) have been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $2.30.

CRON has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cronos Group in a report on Friday, May 29th. TD Securities reiterated a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th.

Institutional Investors Weigh In On Cronos Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its position in Cronos Group by 5.3% during the second quarter. Tidal Investments LLC now owns 5,653,070 shares of the company’s stock worth $10,797,000 after purchasing an additional 282,356 shares during the last quarter. MMCAP International Inc. SPC increased its position 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 during the last quarter. Dimensional Fund Advisors LP increased its position in Cronos Group by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,679,051 shares of the company’s stock worth $6,724,000 after purchasing an additional 172,841 shares during the last quarter. Renaissance Technologies LLC increased its position in Cronos Group by 8.9% during the first quarter. Renaissance Technologies LLC now owns 2,009,549 shares of the company’s stock worth $5,044,000 after purchasing an additional 164,500 shares during the last quarter. Finally, Pillsbury Lake Capital LLC acquired a new stake in Cronos Group during the fourth quarter worth about $4,837,000. 8.71% of the stock is currently owned by institutional investors and hedge funds.

Cronos Group Stock Performance

Shares of NASDAQ CRON opened at $2.77 on Thursday. The company’s fifty day moving average price is $2.66 and its 200 day moving average price is $2.64. Cronos Group has a 1 year low of $1.84 and a 1 year high of $3.43. The company has a market capitalization of $1.03 billion, a PE ratio of 277.28 and a beta of 0.89.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $58.97 million for the quarter, compared to the consensus estimate of $42.20 million. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. On average, equities analysts expect that Cronos Group will post 0.07 EPS for the current year.

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.