Cronos Group (NASDAQ:CRON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cronos Group (NASDAQ:CRON) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently weighed in on CRON. TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a research report on Monday, September 28th. Zacks Research raised Cronos Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings raised Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $2.30.

Cronos Group Trading Down 1.9%

Shares of CRON opened at $3.54 on Friday. The firm’s 50-day moving average price is $3.31 and its 200-day moving average price is $2.88. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 31.91 and a beta of 0.96. Cronos Group has a 1-year low of $2.28 and a 1-year high of $3.91.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. The company had revenue of $63.45 million during the quarter, compared to the consensus estimate of $51.15 million. On average, research analysts forecast that Cronos Group will post 0.12 EPS for the current fiscal year.

Institutional Trading of Cronos Group

A number of hedge funds and other institutional investors have recently modified their holdings of CRON. Silver Oak Securities Incorporated increased its stake in shares of Cronos Group by 7.7% in the 3rd quarter. Silver Oak Securities Incorporated now owns 706,675 shares of the company’s stock worth $2,551,000 after acquiring an additional 50,703 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Cronos Group by 26.5% during the third quarter. Chicago Partners Investment Group LLC now owns 29,601 shares of the company’s stock worth $99,000 after acquiring an additional 6,200 shares in the last quarter. State of Wyoming bought a new stake in Cronos Group during the third quarter worth about $468,000. Squarepoint Ops LLC boosted its stake in Cronos Group by 14.6% during the second quarter. Squarepoint Ops LLC now owns 42,661 shares of the company’s stock worth $119,000 after acquiring an additional 5,441 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in Cronos Group in the second quarter worth about $77,000. 8.71% of the stock is owned by hedge funds and other institutional investors.

About Cronos Group

Cronos Group Inc is a Canadian cannabinoid company focused on developing, producing and commercializing cannabis and cannabis-derived consumer products. The company serves adult-use and medical cannabis markets through a portfolio of brands and sells products such as dried flower, pre-rolls, vaporizers, edibles, oils and other cannabis formats, subject to applicable regulations.

Its brand portfolio has included Spinach, which is positioned primarily in the adult-use cannabis market, as well as Lord Jones and PEACE NATURALS.