Investors Purchase High Volume of Call Options on Cronos Group (NASDAQ:CRON)

Cronos Group Inc. (NASDAQ:CRON) was the recipient of unusually large options trading activity on Friday. Stock traders bought 12,683 call options on the company. This is an increase of approximately 129% compared to the average volume of 5,540 call options.

Cronos Group Trading Down 1.2 %

CRON stock opened at $2.51 on Friday. The company has a market cap of $957.06 million, a P/E ratio of -13.21 and a beta of 1.17. Cronos Group has a 52 week low of $1.64 and a 52 week high of $2.99. The company’s 50-day moving average price is $2.29 and its 200 day moving average price is $2.09.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. The company had revenue of $23.92 million for the quarter, compared to analysts’ expectations of $25.15 million. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. On average, equities research analysts expect that Cronos Group will post -0.01 earnings per share for the current year.

Institutional Trading of Cronos Group

Institutional investors and hedge funds have recently modified their holdings of the business. Intact Investment Management Inc. lifted its holdings in shares of Cronos Group by 54.2% in the third quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company’s stock valued at $2,211,000 after purchasing an additional 389,610 shares in the last quarter. JW Asset Management LLC purchased a new stake in shares of Cronos Group in the third quarter valued at about $400,000. AdvisorShares Investments LLC purchased a new stake in shares of Cronos Group in the third quarter valued at about $280,000. Vontobel Holding Ltd. lifted its holdings in shares of Cronos Group by 139.1% in the third quarter. Vontobel Holding Ltd. now owns 214,560 shares of the company’s stock valued at $428,000 after purchasing an additional 124,820 shares in the last quarter. Finally, Revisor Wealth Management LLC purchased a new stake in shares of Cronos Group in the third quarter valued at about $47,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Bank of America boosted their price objective on shares of Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a report on Monday, April 8th.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.