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

Cronos Group Inc. (NASDAQ:CRON) has been given an average recommendation of “Hold” by the five analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $2.30.

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

Hedge Funds Weigh In On Cronos Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Octavia Wealth Advisors LLC purchased a new stake in shares of Cronos Group during the 4th quarter worth about $28,000. Valeo Financial Advisors LLC acquired a new position in Cronos Group during the fourth quarter valued at approximately $30,000. Brooklyn Investment Group lifted its position in Cronos Group by 5,733.0% during the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after buying an additional 10,778 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in Cronos Group during the third quarter worth approximately $31,000. Finally, Scientech Research LLC purchased a new stake in Cronos Group during the third quarter worth approximately $32,000. 8.71% of the stock is owned by institutional investors and hedge funds.

Cronos Group Price Performance

NASDAQ CRON opened at $2.86 on Monday. The company has a market cap of $1.07 billion, a P/E ratio of 286.29 and a beta of 0.89. Cronos Group has a 12 month low of $1.92 and a 12 month high of $3.43. The company has a 50-day moving average of $2.72 and a 200-day moving average of $2.66.

Cronos Group (NASDAQ:CRON) last released its earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. The business had revenue of $45.21 million for the quarter, compared to analysts’ expectations of $42.20 million. As a group, equities research analysts anticipate that Cronos Group will post 0.07 EPS for the current year.

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.