Cronos Group Inc. (CRON) – What Are Brokerages Thinking About This Stock?

Shares of Cronos Group Inc. (NASDAQ:CRON) have been assigned an average rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $2.30.

Several analysts recently commented on the company. TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a report on Monday, September 28th. Wall Street Zen downgraded Cronos Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research upgraded Cronos Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings raised shares of Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th.

Institutional Trading of Cronos Group

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Cronos Group by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,679,051 shares of the company’s stock valued at $6,724,000 after buying an additional 172,841 shares during the period. Renaissance Technologies LLC increased its holdings in Cronos Group by 8.9% in the first quarter. Renaissance Technologies LLC now owns 2,009,549 shares of the company’s stock valued at $5,044,000 after buying an additional 164,500 shares in the last quarter. Cibc World Market Inc. acquired a new position in shares of Cronos Group in the second quarter worth about $3,820,000. Pillsbury Lake Capital LLC acquired a new position in shares of Cronos Group in the second quarter worth about $2,252,253. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Cronos Group by 5.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 491,430 shares of the company’s stock worth $1,233,000 after acquiring an additional 27,578 shares in the last quarter. 8.71% of the stock is owned by hedge funds and other institutional investors.

Cronos Group Stock Performance

Shares of CRON opened at $3.30 on Friday. The business’s 50-day moving average is $3.30 and its two-hundred day moving average is $2.85. The company has a market capitalization of $1.22 billion, a P/E ratio of 16.50 and a beta of 0.90. Cronos Group has a fifty-two week low of $2.28 and a fifty-two week high of $3.61.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $53.01 million during the quarter, compared to analyst estimates of $44.20 million. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. Analysts forecast that Cronos Group will post 0.12 EPS for the current year.

About Cronos Group

Cronos Group Inc is a Canadian cannabinoid company focused on developing, producing and commercializing cannabis and cannabis-derived consumer products. The company serves adult-use and medical cannabis markets through a portfolio of brands and sells products such as dried flower, pre-rolls, vaporizers, edibles, oils and other cannabis formats, subject to applicable regulations.

Its brand portfolio has included Spinach, which is positioned primarily in the adult-use cannabis market, as well as Lord Jones and PEACE NATURALS.