Cronos Group (NASDAQ:CRON) Shares Gap Up to $2.47

Cronos Group Inc. (NASDAQ:CRON)’s share price gapped up before the market opened on Friday . The stock had previously closed at $2.47, but opened at $2.59. Cronos Group shares last traded at $2.47, with a volume of 1,176,800 shares.

Cronos Group Stock Down 3.2 %

The company’s fifty day simple moving average is $1.92 and its 200 day simple moving average is $1.89. The firm has a market capitalization of $910.83 million, a PE ratio of -6.29 and a beta of 1.41.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Cronos Group had a negative net margin of 172.83% and a negative return on equity of 8.74%. The business had revenue of $19.02 million during the quarter, compared to the consensus estimate of $22.70 million. Equities research analysts forecast that Cronos Group Inc. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in Cronos Group in the 4th quarter worth approximately $35,000. Cetera Investment Advisers purchased a new position in shares of Cronos Group during the 4th quarter valued at $38,000. Deutsche Bank AG lifted its stake in shares of Cronos Group by 21,218.6% during the 4th quarter. Deutsche Bank AG now owns 14,923 shares of the company’s stock valued at $38,000 after buying an additional 14,853 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Cronos Group during the 2nd quarter valued at $43,000. Finally, Cetera Advisor Networks LLC purchased a new position in shares of Cronos Group during the 2nd quarter valued at $45,000. Institutional investors own 8.63% of the company’s stock.

Cronos Group Company Profile

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 brand 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.