Cronos Group (NASDAQ:CRON) Trading 0.4% Higher – Here’s What Happened

Cronos Group Inc. (NASDAQ:CRON)’s stock price traded up 0.4% on Monday . The stock traded as high as $2.81 and last traded at $2.80. 584,595 shares traded hands during trading, a decline of 29% from the average session volume of 823,949 shares. The stock had previously closed at $2.79.

Wall Street Analysts Forecast Growth

CRON has been the subject of a number of research reports. Wall Street Zen upgraded Cronos Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cronos Group in a report on Friday, May 29th. Finally, TD Securities reissued a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cronos Group presently has an average rating of “Hold” and a consensus price target of $2.30.

Cronos Group Price Performance

The business has a fifty day moving average of $2.74 and a 200 day moving average of $2.66. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 278.78 and a beta of 0.89.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $45.21 million during the quarter, compared to analysts’ expectations 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, analysts expect that Cronos Group Inc. will post 0.07 EPS for the current year.

Hedge Funds Weigh In On Cronos Group

Several institutional investors have recently bought and sold shares of CRON. Pillsbury Lake Capital LLC acquired a new stake in shares of Cronos Group in the fourth quarter worth about $4,837,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cronos Group by 1,135.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock valued at $3,075,000 after acquiring an additional 1,018,448 shares during the last quarter. MMCAP International Inc. SPC increased its holdings in shares of Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after acquiring an additional 991,977 shares during the last quarter. Oasis Management Co Ltd. acquired a new position in shares of Cronos Group during the 4th quarter valued at about $2,409,000. Finally, Two Sigma Investments LP raised its stake in shares of Cronos Group by 229.6% in the 3rd quarter. Two Sigma Investments LP now owns 1,310,386 shares of the company’s stock valued at $3,643,000 after acquiring an additional 912,773 shares in the last quarter. 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.