Cronos Group (NASDAQ:CRON) Cut to Sell at Wall Street Zen

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

CRON has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. Canaccord Genuity Group began coverage on shares of Cronos Group in a research note on Tuesday. They set a “buy” rating for the company. Zacks Research lowered 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 set a $2.30 target price on shares of Cronos Group in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Cronos Group currently has an average rating of “Hold” and an average target price of $2.30.

Cronos Group Stock Performance

CRON opened at $2.51 on Friday. The company has a market cap of $957.79 million, a price-to-earnings ratio of 25.10 and a beta of 0.70. Cronos Group has a one year low of $1.60 and a one year high of $3.43. The business’s fifty day moving average is $2.67 and its two-hundred day moving average is $2.53.

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

Institutional Trading of Cronos Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRON. Octavia Wealth Advisors LLC purchased a new position in shares of Cronos Group during the 4th quarter worth $28,000. Brooklyn Investment Group increased its stake in Cronos Group by 5,733.0% in the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after purchasing an additional 10,778 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in Cronos Group during the third quarter worth about $31,000. Scientech Research LLC acquired a new stake in Cronos Group in the 3rd quarter worth about $32,000. Finally, International Assets Investment Management LLC purchased a new stake in Cronos Group in the 2nd quarter valued at about $33,000. 8.71% of the stock is owned by hedge funds and other institutional investors.

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.