Cronos Group (CRON) Trading Down 6.4%

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Cronos Group Inc (NASDAQ:CRON)’s share price fell 6.4% during mid-day trading on Friday . The company traded as low as $19.22 and last traded at $19.23. 10,031,038 shares were traded during trading, a decline of 40% from the average session volume of 16,753,250 shares. The stock had previously closed at $20.54.

A number of research firms have recently issued reports on CRON. Zacks Investment Research cut shares of Cronos Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. BMO Capital Markets cut shares of Cronos Group from a “market perform” rating to an “underperform” rating and set a $21.43 price objective on the stock. in a research report on Monday, March 11th. They noted that the move was a valuation call. Eight Capital lowered shares of Cronos Group to a “hold” rating in a report on Thursday, March 7th. Jefferies Financial Group began coverage on shares of Cronos Group in a report on Monday, February 25th. They issued an “underperform” rating on the stock. Finally, GMP Securities lowered shares of Cronos Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Cronos Group currently has an average rating of “Hold” and a consensus price target of $11.05.

The firm has a market capitalization of $3.44 billion and a price-to-earnings ratio of 1,923.00.

Several institutional investors and hedge funds have recently bought and sold shares of CRON. ETF Managers Group LLC acquired a new stake in shares of Cronos Group in the 4th quarter worth about $72,585,000. TD Asset Management Inc. acquired a new stake in shares of Cronos Group in the 4th quarter worth about $5,840,000. Two Sigma Advisers LP raised its holdings in shares of Cronos Group by 544.3% in the 4th quarter. Two Sigma Advisers LP now owns 388,828 shares of the company’s stock worth $4,099,000 after acquiring an additional 328,479 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Cronos Group by 161.9% in the 4th quarter. Millennium Management LLC now owns 92,706 shares of the company’s stock worth $963,000 after acquiring an additional 242,406 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Cronos Group in the 4th quarter worth about $1,580,000. Institutional investors own 14.13% of the company’s stock.

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Cronos Group Company Profile (NASDAQ:CRON)

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations “MMPR”. The firm typically invests in companies based in Canada.

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