Cronos Group Inc. (NASDAQ:CRON) Stock Has Average Price Target of $2.30 According to Brokerages

Cronos Group Inc. (NASDAQ:CRON) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2.30.

CRON has been the topic of a number of research analyst reports. Wall Street Zen lowered Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a report on Monday, September 28th. Finally, Weiss Ratings raised shares of Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th.

Institutional Trading of Cronos Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC boosted its stake in Cronos Group by 14.6% during the second quarter. Squarepoint Ops LLC now owns 42,661 shares of the company’s stock valued at $119,000 after buying an additional 5,441 shares in the last quarter. Spark Investment Management LLC bought a new stake in Cronos Group in the second quarter worth about $77,000. Amundi raised its position in Cronos Group by 14.8% in the second quarter. Amundi now owns 24,728 shares of the company’s stock worth $69,000 after acquiring an additional 3,180 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Cronos Group by 69.0% in the second quarter. Concurrent Investment Advisors LLC now owns 19,623 shares of the company’s stock worth $55,000 after acquiring an additional 8,009 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Cronos Group by 60.0% in the second quarter. Headlands Technologies LLC now owns 127,364 shares of the company’s stock worth $354,000 after acquiring an additional 47,756 shares in the last quarter. Institutional investors own 8.71% of the company’s stock.

Cronos Group Trading Down 0.3%

NASDAQ CRON opened at $3.20 on Wednesday. Cronos Group has a 52 week low of $2.28 and a 52 week high of $3.61. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 29.18 and a beta of 0.90. The company has a 50-day moving average price of $3.25 and a two-hundred day moving average price of $2.90.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. The firm had revenue of $53.01 million for the quarter, compared to the consensus estimate of $44.20 million. As a group, equities research analysts expect that Cronos Group will post 0.11 earnings per share for the current fiscal year.

About Cronos Group

Cronos Group Inc is a Toronto-based cannabis company that develops, produces and distributes cannabis and cannabis-derived products. The company focuses on branded consumer products, including dried cannabis flower, pre-rolls, vaporizers, edibles and extracts.

Cronos markets products under brands such as Spinach, PEACE NATURALS and Lord Jones. Brand availability varies by market and product category, with the company serving regulated cannabis markets in Canada and pursuing international opportunities where permitted by local laws.

Founded in 2013, Cronos has expanded through brand development, acquisitions and strategic investments.