Oasis Management Co Ltd. Takes Position in Cronos Group Inc. $CRON

Oasis Management Co Ltd. bought a new stake in shares of Cronos Group Inc. (NASDAQ:CRON) during the fourth quarter, Holdings Channel.com reports. The fund bought 915,867 shares of the company’s stock, valued at approximately $2,409,000.

A number of other large investors have also recently modified their holdings of CRON. Octavia Wealth Advisors LLC bought a new stake in shares of Cronos Group during the 4th quarter valued at about $28,000. Brooklyn Investment Group boosted its stake in shares of Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after purchasing an additional 10,778 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Cronos Group during the 4th quarter valued at about $30,000. Swiss Life Asset Management Ltd bought a new stake in shares of Cronos Group during the 3rd quarter valued at about $31,000. Finally, Scientech Research LLC bought a new stake in shares of Cronos Group during the 3rd quarter valued at about $32,000. Institutional investors own 8.71% of the company’s stock.

Cronos Group Price Performance

NASDAQ:CRON opened at $2.68 on Friday. Cronos Group Inc. has a one year low of $1.84 and a one year high of $3.43. The company’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.65. The firm has a market capitalization of $999.72 million, a P/E ratio of 268.27 and a beta of 0.89.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. The business had revenue of $58.97 million for the quarter, compared to analyst estimates of $42.20 million. On average, equities research analysts expect that Cronos Group Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRON. Wall Street Zen raised shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cronos Group in a research note on Friday, May 29th. Finally, TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.30.

Cronos Group 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.