Cronos Group (NASDAQ:CRON) Releases Earnings Results, Misses Expectations By $0.01 EPS

Cronos Group (NASDAQ:CRON – Get Rating) issued its earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), MarketWatch Earnings reports. Cronos Group had a negative return on equity of 16.44% and a negative net margin of 214.92%. The company had revenue of $25.03 million during the quarter, compared to analyst estimates of $30.66 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was up 98.5% compared to the same quarter last year.

NASDAQ:CRON traded down $0.10 during trading hours on Wednesday, reaching $3.08. The company’s stock had a trading volume of 169,538 shares, compared to its average volume of 2,264,492. The company has a debt-to-equity ratio of 0.01, a current ratio of 19.86 and a quick ratio of 19.25. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -7.07 and a beta of 1.66. Cronos Group has a one year low of $2.82 and a one year high of $9.42. The business’s 50-day moving average is $3.39 and its 200-day moving average is $3.98.

Several large investors have recently made changes to their positions in CRON. Deutsche Bank AG boosted its stake in shares of Cronos Group by 47.4% during the 4th quarter. Deutsche Bank AG now owns 14,923 shares of the company’s stock worth $58,000 after acquiring an additional 4,799 shares in the last quarter. LPL Financial LLC grew its stake in Cronos Group by 7.5% in the 4th quarter. LPL Financial LLC now owns 123,645 shares of the company’s stock valued at $485,000 after buying an additional 8,577 shares during the last quarter. Cetera Investment Advisers bought a new position in Cronos Group in the 4th quarter worth $50,000. Stifel Financial Corp acquired a new position in Cronos Group during the 4th quarter worth $51,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Cronos Group by 93.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 29,900 shares of the company’s stock valued at $117,000 after acquiring an additional 14,437 shares during the period. 13.40% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Cronos Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Canaccord Genuity Group dropped their target price on shares of Cronos Group from $7.00 to $4.25 and set a “sell” rating on the stock in a research report on Tuesday, February 22nd. Barclays upgraded shares of Cronos Group from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research report on Tuesday, March 22nd. Jefferies Financial Group upgraded shares of Cronos Group from an “underperform” rating to a “hold” rating and lowered their price objective for the stock from $5.54 to $3.24 in a research report on Thursday, January 27th. Finally, Canaccord Genuity Group upgraded Cronos Group from a “sell” rating to a “hold” rating and set a C$4.50 target price for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.57.

About Cronos Group (Get Rating)

Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.

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