Brokerages Set Cronos Group Inc. (NASDAQ:CRON) Target Price at $2.30

Cronos Group Inc. (NASDAQ:CRON) has received an average rating of “Hold” from the five analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2.30.

A number of research analysts have recently issued reports on CRON shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.30 target price on shares of Cronos Group in a research report on Wednesday, January 14th. Wall Street Zen raised shares of Cronos Group from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. TD Securities assumed coverage on shares of Cronos Group in a research report on Tuesday, February 24th. They set a “buy” rating for the company. Canaccord Genuity Group assumed coverage on shares of Cronos Group in a report on Tuesday, January 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings lowered shares of Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd.

Institutional Investors Weigh In On Cronos Group

Several institutional investors have recently bought and sold shares of CRON. Octavia Wealth Advisors LLC acquired a new position in Cronos Group during the fourth quarter worth $28,000. Brooklyn Investment Group raised its holdings 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 worth $30,000 after acquiring an additional 10,778 shares during the period. Swiss Life Asset Management Ltd acquired a new position in shares of Cronos Group during the 3rd quarter valued at about $31,000. Valeo Financial Advisors LLC purchased a new stake in shares of Cronos Group in the fourth quarter valued at about $30,000. Finally, Scientech Research LLC purchased a new stake in shares of Cronos Group in the third quarter valued at about $32,000. 8.71% of the stock is currently owned by institutional investors and hedge funds.

Cronos Group Trading Up 5.4%

NASDAQ CRON opened at $2.52 on Friday. The stock has a market capitalization of $958.00 million, a price-to-earnings ratio of -251.75 and a beta of 0.78. The stock has a 50-day moving average of $2.60 and a 200 day moving average of $2.60. Cronos Group has a twelve month low of $1.60 and a twelve month high of $3.43.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $58.39 million for the quarter, compared to analyst estimates of $38.51 million. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%. Equities analysts predict that Cronos Group will post -0.03 EPS 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.