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

Cronos Group Inc. (NASDAQ:CRON) has received an average recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $2.30.

CRON has been the topic of a number of recent analyst reports. Wall Street Zen raised Cronos Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. TD Securities reaffirmed a “buy” rating on shares of Cronos Group in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cronos Group in a report on Friday, May 29th.

Cronos Group Price Performance

Shares of NASDAQ CRON opened at $2.81 on Friday. The company has a market capitalization of $1.05 billion, a PE ratio of 281.28 and a beta of 0.89. Cronos Group has a twelve month low of $1.92 and a twelve month high of $3.43. The firm has a fifty day simple moving average of $2.75 and a 200 day simple moving average of $2.66.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. The business had revenue of $45.21 million for the quarter, compared to analysts’ expectations of $42.20 million. As a group, equities analysts expect that Cronos Group will post 0.07 earnings per share for the current fiscal year.

Institutional Trading of Cronos Group

Several large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp increased its stake in shares of Cronos Group by 291.6% in the 1st quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company’s stock valued at $118,000 after acquiring an additional 48,476 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Cronos Group by 84.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock worth $1,948,000 after purchasing an additional 493,161 shares during the period. Envestnet Asset Management Inc. bought a new stake in Cronos Group in the second quarter valued at $36,000. Legal & General Group Plc increased its stake in 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Cronos Group by 192.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company’s stock valued at $171,000 after purchasing an additional 59,013 shares during the period. Institutional investors and hedge funds 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.