Bastion Asset Management Inc. Takes $619,000 Position in Cronos Group Inc. $CRON

Bastion Asset Management Inc. purchased a new position in Cronos Group Inc. (NASDAQ:CRON) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 310,544 shares of the company’s stock, valued at approximately $619,000.

Several other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC purchased a new position in Cronos Group in the second quarter worth about $36,000. International Assets Investment Management LLC purchased a new stake in shares of Cronos Group during the second quarter valued at approximately $33,000. Envestnet Asset Management Inc. bought a new stake in shares of Cronos Group during the second quarter valued at approximately $36,000. Aigen Investment Management LP bought a new stake in shares of Cronos Group during the first quarter valued at approximately $35,000. Finally, Mraz Amerine & Associates Inc. purchased a new position in Cronos Group in the 2nd quarter worth approximately $57,000. 8.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cronos Group in a research note on Wednesday, October 8th. Wall Street Zen raised Cronos Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Cronos Group Trading Up 0.8%

CRON stock opened at $2.47 on Friday. The company’s 50-day moving average price is $2.56 and its 200 day moving average price is $2.24. Cronos Group Inc. has a 52 week low of $1.60 and a 52 week high of $3.16. The company has a market cap of $945.74 million, a P/E ratio of 49.40 and a beta of 1.14.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. Cronos Group had a negative return on equity of 3.78% and a net margin of 14.19%.The business had revenue of $36.34 million for the quarter, compared to analyst estimates of $36.47 million. On average, equities research analysts expect that Cronos Group Inc. will post -0.03 earnings per share for the current year.

About Cronos Group

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.