Cronos Group Inc. (NASDAQ:CRON) Receives $2.30 Consensus PT from Analysts

Shares of Cronos Group Inc. (NASDAQ:CRON) have been given an average rating of “Hold” by the five brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $2.30.

A number of research analysts recently issued reports on CRON shares. Zacks Research downgraded shares of Cronos Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings downgraded shares of Cronos Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Canaccord Genuity Group initiated coverage on shares of Cronos Group in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $2.30 target price on shares of Cronos Group in a research note on Wednesday, January 14th.

Institutional Investors Weigh In On Cronos Group

A number of hedge funds have recently added to or reduced their stakes in CRON. Virtu Financial LLC increased its holdings in shares of Cronos Group by 10.4% during the fourth quarter. Virtu Financial LLC now owns 52,852 shares of the company’s stock valued at $139,000 after acquiring an additional 4,990 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Cronos Group by 19.6% in 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 in the last quarter. Headlands Technologies LLC grew its position in Cronos Group by 12.5% in the 4th quarter. Headlands Technologies LLC now owns 63,097 shares of the company’s stock valued at $166,000 after purchasing an additional 6,998 shares during the period. Federation des caisses Desjardins du Quebec grew its position in Cronos Group by 169.7% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 16,371 shares of the company’s stock valued at $42,000 after purchasing an additional 10,300 shares during the period. Finally, Octavia Wealth Advisors LLC bought a new stake in Cronos Group during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 8.71% of the company’s stock.

Cronos Group Stock Performance

Shares of CRON stock opened at $2.69 on Wednesday. The company has a market cap of $1.01 billion, a P/E ratio of -268.73 and a beta of 0.81. The stock has a 50 day simple moving average of $2.58 and a two-hundred day simple moving average of $2.60. Cronos Group has a fifty-two week low of $1.70 and a fifty-two week high of $3.43.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $58.39 million for the quarter, compared to analysts’ expectations of $38.51 million. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%. On average, research analysts predict that Cronos Group will post -0.03 earnings per share for the current 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.