AdvisorShares Investments LLC Acquires 225,000 Shares of Cronos Group Inc. $CRON

AdvisorShares Investments LLC increased its holdings in shares of Cronos Group Inc. (NASDAQ:CRON) by 38.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 816,068 shares of the company’s stock after purchasing an additional 225,000 shares during the quarter. AdvisorShares Investments LLC owned approximately 0.21% of Cronos Group worth $2,269,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Quinn Opportunity Partners LLC lifted its position in Cronos Group by 73.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 7,437,944 shares of the company’s stock worth $14,206,000 after buying an additional 3,138,018 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Cronos Group in the second quarter valued at about $1,767,000. Silver Oak Securities Incorporated bought a new stake in Cronos Group during the third quarter worth about $1,652,000. Goldman Sachs Group Inc. boosted its position in Cronos Group by 84.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock valued at $1,948,000 after purchasing an additional 493,161 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Cronos Group during the second quarter valued at approximately $619,000. Institutional investors own 8.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRON. Wall Street Zen lowered Cronos Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Canaccord Genuity Group began coverage on shares of Cronos Group in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cronos Group in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $2.30 price target on shares of Cronos Group in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.30.

Cronos Group Price Performance

Shares of Cronos Group stock opened at $2.64 on Friday. The business has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $2.55. Cronos Group Inc. has a 1 year low of $1.60 and a 1 year high of $3.43. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 26.40 and a beta of 0.80.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. Cronos Group had a net margin of 27.27% and a negative return on equity of 1.12%. The firm had revenue of $36.34 million for the quarter, compared to the consensus estimate of $36.47 million. As a group, equities analysts anticipate that Cronos Group Inc. will post -0.03 earnings per share for the current fiscal year.

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.