Wall Street Zen Upgrades Cronos Group (NASDAQ:CRON) to “Hold”

Cronos Group (NASDAQ:CRON) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

CRON has been the topic of several other reports. Canaccord Genuity Group began coverage on Cronos Group in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 29th. Zacks Research downgraded Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $2.30 price target on shares of Cronos Group in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.30.

Cronos Group Trading Up 1.2%

Shares of CRON stock opened at $2.60 on Friday. Cronos Group has a 12-month low of $1.60 and a 12-month high of $3.43. The business’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.56. The company has a market cap of $988.42 million, a PE ratio of 26.00 and a beta of 0.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of Cronos Group by 291.6% in the 1st quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock valued at $118,000 after purchasing an additional 48,476 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cronos Group by 84.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock valued at $1,948,000 after buying an additional 493,161 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Cronos Group during the 2nd quarter worth approximately $33,000. Chicago Partners Investment Group LLC purchased a new position in shares of Cronos Group in the second quarter valued at approximately $36,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Cronos Group in the second quarter worth approximately $36,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

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.