Hillsdale Investment Management Inc. Grows Stock Holdings in Cronos Group Inc. $CRON

Hillsdale Investment Management Inc. lifted its stake in shares of Cronos Group Inc. (NASDAQ:CRON) by 50.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,383,776 shares of the company’s stock after purchasing an additional 462,294 shares during the period. Hillsdale Investment Management Inc. owned 0.36% of Cronos Group worth $3,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in Cronos Group by 11.0% during the second quarter. Bank of America Corp DE now owns 135,180 shares of the company’s stock worth $258,000 after buying an additional 13,450 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Cronos Group during the 2nd quarter worth $36,000. Envestnet Asset Management Inc. acquired a new position in shares of Cronos Group during the 2nd quarter valued at about $36,000. Legal & General Group Plc grew its holdings in shares of Cronos Group by 16.1% in the second quarter. Legal & General Group Plc now owns 195,368 shares of the company’s stock valued at $374,000 after purchasing an additional 27,111 shares during the period. Finally, Corient Private Wealth LLC increased its position in Cronos Group by 35.0% during the second quarter. Corient Private Wealth LLC now owns 135,882 shares of the company’s stock worth $260,000 after purchasing an additional 35,245 shares during the last quarter. Institutional investors and hedge funds own 8.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CRON has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cronos Group in a research note on Monday, December 29th. Wall Street Zen upgraded Cronos Group from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Sanford C. Bernstein reissued a “market perform” rating and set a $2.30 target price on shares of Cronos Group in a research note on Wednesday, January 14th. Zacks Research lowered Cronos Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Canaccord Genuity Group began coverage on Cronos Group in a report on Tuesday, January 27th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.30.

Cronos Group Stock Performance

Cronos Group stock opened at $2.70 on Monday. The company has a market capitalization of $1.03 billion, a PE ratio of 27.00 and a beta of 0.80. Cronos Group Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $3.43. The firm has a 50 day moving average price of $2.68 and a 200 day moving average price of $2.59.

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.