Cronos Group (TSE:CRON) had its price target reduced by CIBC from C$20.00 to C$17.00 in a research report released on Wednesday, BayStreet.CA reports.
CRON has been the topic of a number of other reports. BMO Capital Markets upgraded shares of Cronos Group from an underperform rating to a market perform rating and set a C$16.00 price objective on the stock in a report on Thursday, September 5th. Jefferies Financial Group lowered their price objective on shares of Cronos Group from C$15.00 to C$10.00 in a report on Friday, October 11th. Cowen lowered their price objective on shares of Cronos Group from C$21.00 to C$17.00 in a report on Tuesday, September 3rd. Finally, Canaccord Genuity upgraded shares of Cronos Group from a sell rating to a hold rating and boosted their target price for the stock from C$16.00 to C$17.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of C$18.56.
Shares of TSE CRON traded down C$0.58 during midday trading on Wednesday, reaching C$9.03. The company’s stock had a trading volume of 1,090,621 shares, compared to its average volume of 1,472,147. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29. Cronos Group has a fifty-two week low of C$8.82 and a fifty-two week high of C$32.95. The stock has a market capitalization of $3.23 billion and a price-to-earnings ratio of 12.70. The stock has a 50 day simple moving average of C$11.25 and a 200-day simple moving average of C$16.95.
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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