Cronos Group (NASDAQ:CRON) Lowered to “Sell” Rating by Wall Street Zen

Cronos Group (NASDAQ:CRON) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Cronos Group Trading Up 1.3%

NASDAQ:CRON opened at $2.30 on Friday. Cronos Group has a 1 year low of $1.60 and a 1 year high of $2.46. The firm’s fifty day simple moving average is $2.00 and its 200 day simple moving average is $1.93. The firm has a market capitalization of $882.76 million, a PE ratio of 46.00 and a beta of 1.01.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Cronos Group had a net margin of 14.19% and a negative return on equity of 3.79%. The firm had revenue of $33.46 million during the quarter, compared to analyst estimates of $45.73 million. As a group, analysts anticipate that Cronos Group will post -0.03 EPS for the current fiscal year.

Institutional Trading of Cronos Group

A number of hedge funds have recently bought and sold shares of CRON. Tower Research Capital LLC TRC boosted its holdings in Cronos Group by 140.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company’s stock valued at $28,000 after purchasing an additional 8,019 shares during the period. International Assets Investment Management LLC bought a new stake in Cronos Group in the 2nd quarter valued at $33,000. Aigen Investment Management LP bought a new stake in Cronos Group in the 1st quarter valued at $35,000. Chicago Partners Investment Group LLC bought a new position in shares of Cronos Group during the 2nd quarter worth about $36,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Cronos Group during the 2nd quarter worth about $36,000. 8.71% of the stock is owned by institutional investors.

About Cronos Group

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.