Cronos Group (NASDAQ:CRON) Issues Earnings Results

Cronos Group (NASDAQ:CRON) posted its quarterly earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05, Zacks reports. The company had revenue of $36.34 million during the quarter, compared to the consensus estimate of $36.47 million. Cronos Group had a net margin of 27.27% and a negative return on equity of 0.84%.

Cronos Group Price Performance

NASDAQ:CRON traded up $0.01 on Friday, reaching $2.48. The stock had a trading volume of 1,386,857 shares, compared to its average volume of 1,391,405. Cronos Group has a 12-month low of $1.60 and a 12-month high of $3.16. The company has a market cap of $949.57 million, a price-to-earnings ratio of 24.80 and a beta of 1.14. The firm’s fifty day moving average is $2.56 and its two-hundred day moving average is $2.24.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRON. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cronos Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Cronos Group presently has an average rating of “Sell”.

Institutional Trading of Cronos Group

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Cronos Group by 84.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock worth $1,948,000 after acquiring an additional 493,161 shares during the period. Tidal Investments LLC lifted its stake in shares of Cronos Group by 5.3% during the 2nd 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 period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cronos Group by 192.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock worth $171,000 after purchasing an additional 59,013 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Cronos Group by 291.6% in the first quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock valued at $118,000 after purchasing an additional 48,476 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Cronos Group by 15.3% in the second quarter. Raymond James Financial Inc. now owns 360,052 shares of the company’s stock valued at $688,000 after purchasing an additional 47,771 shares during the last quarter. Institutional investors and hedge funds own 8.71% of the company’s stock.

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.