Cronos Group (NASDAQ:CRON) Upgraded by Wall Street Zen to “Hold” Rating

Cronos Group (NASDAQ:CRON) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Cronos Group Price Performance

Shares of NASDAQ CRON opened at $2.60 on Friday. Cronos Group has a 1-year low of $1.60 and a 1-year high of $3.43. The business’s 50 day moving average is $2.70 and its two-hundred day moving average is $2.56. The stock has a market capitalization of $988.42 million, a P/E ratio of 26.00 and a beta of 0.80.

Institutional Investors Weigh In On Cronos Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRON. Octavia Wealth Advisors LLC purchased a new stake in shares of Cronos Group in the fourth quarter valued at approximately $28,000. Valeo Financial Advisors LLC bought a new stake in Cronos Group during the 4th quarter valued at $30,000. Brooklyn Investment Group lifted its holdings in shares of Cronos Group by 5,733.0% in the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after buying an additional 10,778 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in shares of Cronos Group in the 3rd quarter worth $31,000. Finally, Scientech Research LLC purchased a new position in shares of Cronos Group during the third quarter valued at $32,000. Institutional investors 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.