AdvisorShares Investments LLC Acquires 225,000 Shares of Cronos Group Inc. $CRON

AdvisorShares Investments LLC boosted its holdings in Cronos Group Inc. (NASDAQ:CRON) by 38.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 816,068 shares of the company’s stock after purchasing an additional 225,000 shares during the quarter. AdvisorShares Investments LLC’s holdings in Cronos Group were worth $2,269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Quinn Opportunity Partners LLC increased its holdings in shares of Cronos Group by 73.0% during the second quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock worth $14,206,000 after purchasing an additional 3,138,018 shares during the period. Tidal Investments LLC grew its position in Cronos Group by 5.3% during the second quarter. Tidal Investments LLC now owns 5,653,070 shares of the company’s stock worth $10,797,000 after buying an additional 282,356 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Cronos Group by 84.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock worth $1,948,000 after buying an additional 493,161 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Cronos Group during the 2nd quarter worth $1,767,000. Finally, Silver Oak Securities Incorporated acquired a new position in Cronos Group in the 3rd quarter valued at $1,652,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRON shares. Zacks Research lowered Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.30 price objective on shares of Cronos Group in a research note on Wednesday, January 14th. Canaccord Genuity Group began coverage on shares of Cronos Group in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Finally, Wall Street Zen lowered shares of Cronos Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cronos Group presently has an average rating of “Hold” and a consensus target price of $2.30.

Cronos Group Price Performance

CRON stock opened at $2.64 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 26.40 and a beta of 0.80. The company has a 50 day simple moving average of $2.69 and a 200 day simple moving average of $2.55. Cronos Group Inc. has a 1 year low of $1.60 and a 1 year high of $3.43.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, November 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. Cronos Group had a net margin of 27.27% and a negative return on equity of 1.12%. The firm had revenue of $36.34 million for the quarter, compared to analysts’ expectations of $36.47 million. On average, equities research analysts anticipate that Cronos Group Inc. will post -0.03 EPS for the current fiscal year.

Cronos Group 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.