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

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

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Cronos Group in a research report on Friday, May 29th. Wall Street Zen upgraded Cronos Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, TD Securities restated a “buy” rating on shares of Cronos Group in a research report on Tuesday, May 12th.

Cronos Group Stock Down 0.7%

Shares of CRON opened at $2.71 on Thursday. Cronos Group has a 12-month low of $1.84 and a 12-month high of $3.43. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 271.27 and a beta of 0.89. The stock’s 50-day moving average price is $2.65 and its 200 day moving average price is $2.63.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $58.97 million for the quarter, compared to analyst estimates of $42.20 million. Cronos Group had a negative return on equity of 1.26% and a negative net margin of 1.14%. Equities research analysts expect that Cronos Group will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRON. Jones Financial Companies Lllp lifted 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 during the period. Goldman Sachs Group Inc. raised its stake in Cronos Group by 84.6% during the 1st 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 during the period. Envestnet Asset Management Inc. acquired a new stake in Cronos Group during the 2nd quarter worth $36,000. Legal & General Group Plc raised its stake in Cronos Group by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 195,368 shares of the company’s stock worth $374,000 after buying an additional 27,111 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Cronos Group by 192.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock worth $171,000 after buying an additional 59,013 shares during the period. Institutional investors and hedge funds own 8.71% of the company’s stock.

About Cronos Group

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.