Cronos Group (NASDAQ:CRON) Trading Down 9.5% – Should You Sell?

Cronos Group Inc. (NASDAQ:CRON)’s share price dropped 9.5% during mid-day trading on Wednesday . The stock traded as low as $2.00 and last traded at $2.01. Approximately 1,889,572 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 1,925,177 shares. The stock had previously closed at $2.22.

Cronos Group Stock Down 7.7 %

The firm has a market capitalization of $783.72 million, a PE ratio of -13.67 and a beta of 0.98. The firm’s fifty day simple moving average is $2.18 and its 200-day simple moving average is $2.37.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $27.76 million during the quarter, compared to analysts’ expectations of $25.85 million. Cronos Group had a negative return on equity of 2.06% and a negative net margin of 56.43%. During the same period last year, the firm posted ($0.02) earnings per share. As a group, analysts predict that Cronos Group Inc. will post -0.05 earnings per share for the current year.

Institutional Trading of Cronos Group

A number of large investors have recently made changes to their positions in CRON. National Bank of Canada FI grew its stake in shares of Cronos Group by 1,094.4% in the second quarter. National Bank of Canada FI now owns 15,169 shares of the company’s stock worth $35,000 after acquiring an additional 13,899 shares during the period. Toronto Dominion Bank grew its stake in shares of Cronos Group by 204.8% in the first quarter. Toronto Dominion Bank now owns 17,054 shares of the company’s stock worth $45,000 after acquiring an additional 11,459 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of Cronos Group in the first quarter worth approximately $60,000. Headlands Technologies LLC grew its position in Cronos Group by 12,309.4% during the second quarter. Headlands Technologies LLC now owns 27,797 shares of the company’s stock valued at $65,000 after buying an additional 27,573 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in Cronos Group during the first quarter valued at approximately $79,000. 8.71% of the stock is currently owned by institutional investors.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.