Cronos Group Inc. (NASDAQ:CRON) Given Average Recommendation of “Hold” by Brokerages

Cronos Group Inc. (NASDAQ:CRON) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.30.

A number of brokerages have recently issued reports on CRON. Wall Street Zen upgraded Cronos Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. TD Securities reiterated a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cronos Group in a research report on Friday, May 29th.

Cronos Group Price Performance

CRON opened at $2.71 on Thursday. The business’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.63. Cronos Group has a 1 year low of $1.84 and a 1 year high of $3.43. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 271.27 and a beta of 0.89.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%.The company had revenue of $58.97 million during the quarter, compared to analysts’ expectations of $42.20 million. Sell-side analysts anticipate that Cronos Group will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pillsbury Lake Capital LLC bought a new stake in shares of Cronos Group during the fourth quarter worth $4,837,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Cronos Group by 1,135.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company’s stock worth $3,075,000 after buying an additional 1,018,448 shares during the last quarter. MMCAP International Inc. SPC grew its stake in shares of Cronos Group by 56.1% during the fourth quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock worth $7,262,000 after buying an additional 991,977 shares during the last quarter. Oasis Management Co Ltd. bought a new stake in shares of Cronos Group during the fourth quarter worth $2,409,000. Finally, Two Sigma Investments LP grew its stake in shares of Cronos Group by 229.6% during the third quarter. Two Sigma Investments LP now owns 1,310,386 shares of the company’s stock worth $3,643,000 after buying an additional 912,773 shares during the last quarter. 8.71% of the stock is currently owned by institutional investors and hedge funds.

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.