Hillsdale Investment Management Inc. Has $2.62 Million Stock Holdings in Cronos Group Inc. $CRON

Hillsdale Investment Management Inc. lessened its holdings in Cronos Group Inc. (NASDAQ:CRON) by 27.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 997,180 shares of the company’s stock after selling 386,596 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Cronos Group were worth $2,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AdvisorShares Investments LLC boosted its position in Cronos Group by 38.1% during the third quarter. AdvisorShares Investments LLC now owns 816,068 shares of the company’s stock valued at $2,269,000 after purchasing an additional 225,000 shares during the last quarter. MMCAP International Inc. SPC boosted its position in Cronos Group by 56.1% during the fourth quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock valued at $7,262,000 after purchasing an additional 991,977 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Cronos Group during the third quarter valued at $751,000. Empirical Asset Management LLC acquired a new stake in Cronos Group during the third quarter valued at $70,000. Finally, State of Wyoming acquired a new stake in Cronos Group during the third quarter valued at $341,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

Analyst Upgrades and Downgrades

CRON has been the subject of a number of research reports. Wall Street Zen raised Cronos Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. TD Securities reissued a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th. Finally, Weiss Ratings cut Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.30.

Cronos Group Price Performance

Shares of CRON opened at $2.84 on Monday. Cronos Group Inc. has a 12-month low of $1.84 and a 12-month high of $3.43. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 284.28 and a beta of 0.89. The stock’s 50-day moving average price is $2.63 and its 200 day moving average price is $2.63.

Cronos Group (NASDAQ:CRON) last released 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. The company had revenue of $58.97 million for the quarter, compared to analyst estimates of $42.20 million. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%. Equities research analysts expect that Cronos Group Inc. will post 0.07 EPS for the current year.

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.