Cronos Group Inc. (NASDAQ:CRON) Given Average Recommendation of “Hold” by Brokerages

Cronos Group Inc. (NASDAQ:CRON) has earned an average rating of “Hold” from the five research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.30.

A number of research analysts recently issued reports on the stock. TD Securities assumed coverage on shares of Cronos Group in a research report on Tuesday, February 24th. They set a “buy” rating for the company. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $2.30 price target on shares of Cronos Group in a research report on Wednesday, January 14th. Weiss Ratings downgraded Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded Cronos Group from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Canaccord Genuity Group initiated coverage on Cronos Group in a report on Tuesday, January 27th. They issued a “buy” rating for the company.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Virtu Financial LLC boosted its stake in shares of Cronos Group by 10.4% in the fourth quarter. Virtu Financial LLC now owns 52,852 shares of the company’s stock worth $139,000 after acquiring an additional 4,990 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Cronos Group by 19.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 32,631 shares of the company’s stock valued at $86,000 after purchasing an additional 5,349 shares during the last quarter. Headlands Technologies LLC raised its stake in Cronos Group by 12.5% in the 4th quarter. Headlands Technologies LLC now owns 63,097 shares of the company’s stock valued at $166,000 after purchasing an additional 6,998 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in Cronos Group by 169.7% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 16,371 shares of the company’s stock valued at $42,000 after purchasing an additional 10,300 shares in the last quarter. Finally, Octavia Wealth Advisors LLC purchased a new position in Cronos Group in the 4th quarter valued at $28,000. 8.71% of the stock is owned by institutional investors and hedge funds.

Cronos Group Trading Down 1.1%

CRON opened at $2.73 on Wednesday. Cronos Group has a 12-month low of $1.73 and a 12-month high of $3.43. The firm has a market capitalization of $1.03 billion, a PE ratio of -272.73 and a beta of 0.81. The firm has a 50 day moving average of $2.59 and a two-hundred day moving average of $2.60.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $58.39 million for the quarter, compared to the consensus estimate of $38.51 million. Cronos Group had a negative net margin of 6.44% and a negative return on equity of 1.12%. As a group, analysts predict that Cronos Group will post 0.08 EPS for the current fiscal year.

Cronos Group Company Profile

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.