Cronos Group Inc. (NASDAQ:CRON) Given Average Recommendation of “Hold” by Analysts

Cronos Group Inc. (NASDAQ:CRON) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.30.

Several research firms have issued reports on CRON. Weiss Ratings restated a “sell (d+)” rating on shares of Cronos Group in a research report on Friday, May 29th. Wall Street Zen raised shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a research note on Tuesday, May 12th.

Cronos Group Stock Performance

Cronos Group stock opened at $2.81 on Monday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 281.28 and a beta of 0.89. Cronos Group has a 1 year low of $1.89 and a 1 year high of $3.43. The firm’s 50 day moving average price is $2.70 and its two-hundred day moving average price is $2.66.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting 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 net margin of 1.14% and a negative return on equity of 1.26%. As a group, equities analysts predict that Cronos Group will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cronos Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRON. Jones Financial Companies Lllp boosted its stake in Cronos Group by 291.6% in the 1st quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock worth $118,000 after purchasing an additional 48,476 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Cronos Group by 84.6% during 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 during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Cronos Group during the 2nd quarter valued at $36,000. Legal & General Group Plc boosted its stake in shares of Cronos Group by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 195,368 shares of the company’s stock valued at $374,000 after buying an additional 27,111 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Cronos Group by 192.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock valued at $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.

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.