Cronos Group Inc (NASDAQ:CRON) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 20,590,632 shares, an increase of 21.5% from the August 15th total of 16,945,292 shares. Based on an average daily trading volume, of 32,786,347 shares, the short-interest ratio is currently 0.6 days.
Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in Cronos Group by 10,393.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,419 shares of the company’s stock valued at $114,000 after buying an additional 17,253 shares during the period. Gerber Kawasaki Wealth & Investment Management acquired a new position in Cronos Group during the 2nd quarter valued at about $129,000. Royal Bank of Canada acquired a new position in Cronos Group during the 1st quarter valued at about $169,000. Sigma Planning Corp acquired a new position in Cronos Group during the 2nd quarter valued at about $178,000. Finally, Farmers Trust Co. increased its stake in Cronos Group by 100.0% during the 2nd quarter. Farmers Trust Co. now owns 30,000 shares of the company’s stock valued at $196,000 after buying an additional 15,000 shares during the period. 9.47% of the stock is currently owned by hedge funds and other institutional investors.
Cronos Group stock opened at $10.11 on Friday. The stock has a market cap of $2.12 billion and a price-to-earnings ratio of 1,073.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 44.71 and a current ratio of 52.98. Cronos Group has a 52 week low of $1.50 and a 52 week high of $13.39.
Separately, Canaccord Genuity raised shares of Cronos Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th.
About Cronos Group
Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations (?MMPR?). The firm typically invests in companies based in Canada.
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