AdvisorShares Investments LLC Has $1.51 Million Position in Cronos Group Inc. $CRON

AdvisorShares Investments LLC lessened its stake in shares of Cronos Group Inc. (NASDAQ:CRON) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 575,660 shares of the company’s stock after selling 240,408 shares during the quarter. AdvisorShares Investments LLC’s holdings in Cronos Group were worth $1,514,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. lifted its stake in shares of Cronos Group by 50.2% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 1,383,776 shares of the company’s stock worth $3,827,000 after buying an additional 462,294 shares during the last quarter. MMCAP International Inc. SPC lifted its stake in shares of Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company’s stock worth $7,262,000 after buying an additional 991,977 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Cronos Group during the 3rd quarter worth about $751,000. Boothbay Fund Management LLC acquired a new stake in shares of Cronos Group during the 3rd quarter worth about $832,000. Finally, Shay Capital LLC lifted its stake in shares of Cronos Group by 180.4% during the 3rd quarter. Shay Capital LLC now owns 155,375 shares of the company’s stock worth $432,000 after buying an additional 99,962 shares during the last quarter. Institutional investors and hedge funds own 8.71% of the company’s stock.

Cronos Group Price Performance

Shares of NASDAQ:CRON opened at $2.84 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 284.28 and a beta of 0.87. The firm has a 50 day simple moving average of $2.63 and a 200 day simple moving average of $2.63. Cronos Group Inc. has a one year low of $1.84 and a one year high of $3.43.

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

Analyst Ratings Changes

Several brokerages have weighed in on CRON. Weiss Ratings cut shares of Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. TD Securities reiterated a “buy” rating on shares of Cronos Group in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.30.

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.