Quad Cities Investment Group LLC Sells 296,389 Shares of Cronos Group Inc. $CRON

Quad Cities Investment Group LLC lowered its position in shares of Cronos Group Inc. (NASDAQ:CRON) by 74.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,000 shares of the company’s stock after selling 296,389 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Cronos Group were worth $278,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Octavia Wealth Advisors LLC bought a new position in shares of Cronos Group during the fourth quarter worth $28,000. Brooklyn Investment Group raised its stake in Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after buying an additional 10,778 shares during the period. Valeo Financial Advisors LLC bought a new position in Cronos Group during the fourth quarter worth about $30,000. Scientech Research LLC bought a new position in Cronos Group during the third quarter worth about $32,000. Finally, Sender Co & Partners Inc. acquired a new position in Cronos Group in the third quarter valued at about $35,000. 8.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Securities restated a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Wall Street Zen upgraded Cronos Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cronos Group in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.30.

Cronos Group Trading Down 3.2%

CRON opened at $2.72 on Thursday. The stock has a market capitalization of $1.01 billion, a P/E ratio of 272.27 and a beta of 0.90. Cronos Group Inc. has a 12 month low of $2.04 and a 12 month high of $3.43. The firm’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $2.67.

Cronos Group (NASDAQ:CRON) last released its earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $45.21 million during the quarter, compared to analysts’ expectations of $42.20 million. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%. On average, equities research analysts predict that Cronos Group Inc. will post 0.07 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.