Cronos Group (NASDAQ:CRON) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Cronos Group (NASDAQ:CRON) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts have also commented on the company. Canaccord Genuity Group assumed coverage on Cronos Group in a report on Tuesday, January 27th. They issued a “buy” rating on the stock. Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $2.30 price objective on shares of Cronos Group in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.30.

Cronos Group Stock Up 1.2%

Cronos Group stock opened at $2.60 on Friday. The company’s 50-day moving average price is $2.70 and its two-hundred day moving average price is $2.57. The stock has a market cap of $988.41 million, a P/E ratio of 26.00 and a beta of 0.80. Cronos Group has a twelve month low of $1.60 and a twelve month high of $3.43.

Institutional Trading of Cronos Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Silver Oak Securities Incorporated acquired a new stake in Cronos Group in the third quarter valued at about $1,652,000. AdvisorShares Investments LLC lifted its holdings in shares of Cronos Group by 38.1% in the third quarter. AdvisorShares Investments LLC now owns 816,068 shares of the company’s stock worth $2,269,000 after acquiring an additional 225,000 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Cronos Group in the 2nd quarter valued at approximately $1,767,000. Quinn Opportunity Partners LLC grew its holdings in shares of Cronos Group by 73.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock valued at $14,206,000 after purchasing an additional 3,138,018 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Cronos Group during the 2nd quarter worth approximately $619,000. Institutional investors own 8.71% of the company’s stock.

About Cronos Group

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.