Cronos Group Inc. (NASDAQ:CRON) Short Interest Update

Cronos Group Inc. (NASDAQ:CRONGet Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 6,710,000 shares, a growth of 11.5% from the April 30th total of 6,020,000 shares. Based on an average trading volume of 3,420,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.4% of the shares of the company are short sold.

Cronos Group Trading Up 3.6 %

Cronos Group stock opened at $2.59 on Monday. The stock has a market cap of $989.41 million, a P/E ratio of -17.27 and a beta of 1.11. Cronos Group has a 52 week low of $1.64 and a 52 week high of $3.14. The stock has a 50 day moving average of $2.65 and a 200-day moving average of $2.28.

Cronos Group (NASDAQ:CRONGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Cronos Group had a negative return on equity of 3.06% and a negative net margin of 61.31%. The business had revenue of $25.29 million for the quarter, compared to analyst estimates of $24.30 million. During the same period in the prior year, the company posted ($0.03) EPS.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America boosted their target price on shares of Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research report on Monday, April 8th. CIBC boosted their target price on shares of Cronos Group from $3.00 to $3.50 and gave the company an “outperformer” rating in a research note on Wednesday, May 15th.

Check Out Our Latest Report on CRON

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank boosted its position in shares of Cronos Group by 204.8% in the 1st quarter. Toronto Dominion Bank now owns 17,054 shares of the company’s stock valued at $45,000 after purchasing an additional 11,459 shares during the period. Chesapeake Capital Corp IL acquired a new position in shares of Cronos Group in the 4th quarter valued at $25,000. Vontobel Holding Ltd. boosted its position in shares of Cronos Group by 6.6% in the 4th quarter. Vontobel Holding Ltd. now owns 228,780 shares of the company’s stock valued at $478,000 after purchasing an additional 14,220 shares during the period. SeaCrest Wealth Management LLC boosted its position in shares of Cronos Group by 39.4% in the 1st quarter. SeaCrest Wealth Management LLC now owns 67,225 shares of the company’s stock valued at $175,000 after purchasing an additional 19,000 shares during the period. Finally, Revisor Wealth Management LLC acquired a new position in shares of Cronos Group in the 1st quarter valued at $51,000. Institutional investors own 8.71% of the company’s stock.

About Cronos Group

(Get Free Report)

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.

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