Cronos Group (NASDAQ:CRON) has been given a $10.00 target price by investment analysts at Raymond James in a report released on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 85.53% from the company’s previous close.

Separately, Zacks Investment Research downgraded Cronos Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.40.

Shares of NASDAQ:CRON opened at $5.39 on Monday. The company has a quick ratio of 5.73, a current ratio of 5.96 and a debt-to-equity ratio of 0.01. Cronos Group has a 12-month low of $4.00 and a 12-month high of $11.77. The business has a fifty day simple moving average of $5.74 and a 200 day simple moving average of $5.98.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Thursday, August 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.25). The company had revenue of $9.88 million for the quarter, compared to the consensus estimate of $12.29 million. Cronos Group had a negative return on equity of 2.57% and a net margin of 1,729.07%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. On average, analysts forecast that Cronos Group will post -0.09 EPS for the current fiscal year.

In related news, insider Todd Kevin Abraham bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $5.78 per share, for a total transaction of $86,700.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at $86,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.93% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC purchased a new position in Cronos Group in the second quarter worth $146,000. Toronto Dominion Bank lifted its stake in Cronos Group by 7,512.0% in the second quarter. Toronto Dominion Bank now owns 124,075 shares of the company’s stock worth $747,000 after purchasing an additional 122,445 shares during the last quarter. WFA of San Diego LLC bought a new stake in Cronos Group in the second quarter worth $383,000. FMR LLC bought a new stake in Cronos Group in the second quarter worth $6,443,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in Cronos Group in the second quarter worth $107,000. Institutional investors own 12.13% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations “MMPR”. The firm typically invests in companies based in Canada.

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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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