Cronos Group (NASDAQ:CRON) Trading 8.9% Higher

Cronos Group Inc. (NASDAQ:CRON)’s share price was up 8.9% during mid-day trading on Thursday . The company traded as high as $2.84 and last traded at $2.81. Approximately 1,506,968 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 2,994,507 shares. The stock had previously closed at $2.58.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their target price on shares of Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research report on Monday, April 8th.

Cronos Group Price Performance

The stock has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.17. The stock has a market capitalization of $1.09 billion, a P/E ratio of -14.42 and a beta of 1.11.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. Cronos Group had a negative net margin of 84.15% and a negative return on equity of 3.99%. The firm had revenue of $23.92 million during the quarter, compared to the consensus estimate of $25.15 million. Research analysts anticipate that Cronos Group Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Cronos Group

Institutional investors have recently added to or reduced their stakes in the business. Chesapeake Capital Corp IL bought a new stake in shares of Cronos Group during the 4th quarter valued at about $25,000. Revisor Wealth Management LLC bought a new stake in Cronos Group during the third quarter valued at approximately $47,000. Cerity Partners LLC purchased a new position in Cronos Group in the 4th quarter worth approximately $65,000. Concurrent Investment Advisors LLC bought a new position in shares of Cronos Group in the 1st quarter worth $79,000. Finally, International Assets Investment Management LLC raised its position in shares of Cronos Group by 228.0% during the 4th quarter. International Assets Investment Management LLC now owns 39,741 shares of the company’s stock valued at $83,000 after buying an additional 27,626 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.