Cronos Group (NASDAQ:CRON) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Cronos Group (NASDAQ:CRON) in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating on the stock.

Several other brokerages also recently weighed in on CRON. Sanford C. Bernstein reiterated a “market perform” rating and issued a $2.30 price objective on shares of Cronos Group in a research report on Wednesday, January 14th. Zacks Research lowered shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cronos Group presently has an average rating of “Hold” and a consensus target price of $2.30.

Cronos Group Trading Up 0.7%

Shares of Cronos Group stock opened at $2.71 on Tuesday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 27.10 and a beta of 0.70. Cronos Group has a twelve month low of $1.60 and a twelve month high of $3.43. The business’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $2.52.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $36.34 million during the quarter, compared to the consensus estimate of $36.47 million. Cronos Group had a negative return on equity of 1.12% and a net margin of 27.27%. Sell-side analysts predict that Cronos Group will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRON. Octavia Wealth Advisors LLC bought a new stake in Cronos Group during the fourth quarter worth approximately $28,000. Brooklyn Investment Group increased its position in shares of Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock valued at $30,000 after purchasing an additional 10,778 shares during the period. Swiss Life Asset Management Ltd bought a new stake in shares of Cronos Group in the 3rd quarter worth $31,000. Scientech Research LLC bought a new stake in shares of Cronos Group in the 3rd quarter worth $32,000. Finally, Sender Co & Partners Inc. acquired a new stake in shares of Cronos Group in the third quarter valued at $35,000. 8.71% of the stock is currently owned by institutional investors.

Cronos Group Company Profile

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group’s business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company’s branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.