Cronos Group (NASDAQ:CRON) Stock Rating Lowered by Wall Street Zen

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

Several other analysts also recently weighed in on CRON. Canaccord Genuity Group began coverage on shares of Cronos Group in a research report on Tuesday. They set a “buy” rating for the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.30 price target on shares of Cronos Group in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 29th. Finally, Zacks Research lowered Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.30.

Cronos Group Stock Performance

NASDAQ:CRON opened at $2.51 on Friday. Cronos Group has a 1 year low of $1.60 and a 1 year high of $3.43. The stock has a market cap of $957.79 million, a P/E ratio of 25.10 and a beta of 0.70. The stock has a 50-day simple moving average of $2.67 and a 200-day simple moving average of $2.53.

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

Hedge Funds Weigh In On Cronos Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CRON. Pictet Asset Management Holding SA grew its stake in shares of Cronos Group by 19.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 32,631 shares of the company’s stock worth $86,000 after purchasing an additional 5,349 shares during the period. Octavia Wealth Advisors LLC purchased a new stake in Cronos Group during the fourth quarter worth about $28,000. Brooklyn Investment Group grew its position in Cronos Group by 5,733.0% during the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after buying an additional 10,778 shares during the period. Swiss Life Asset Management Ltd acquired a new position in Cronos Group during the third quarter worth about $31,000. Finally, Scientech Research LLC purchased a new position in Cronos Group in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

About Cronos Group

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.