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.
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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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