Cronos Group Inc (NASDAQ:CRON)’s stock price shot up 5.8% during trading on Tuesday . The company traded as high as $6.90 and last traded at $6.88, 6,326,716 shares traded hands during trading. A decline of 25% from the average session volume of 8,424,857 shares. The stock had previously closed at $6.50.
Several brokerages have recently commented on CRON. BMO Capital Markets upgraded Cronos Group from an “underperform” rating to a “market perform” rating in a research report on Thursday, September 5th. Zacks Investment Research lowered Cronos Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Canaccord Genuity upgraded Cronos Group from a “sell” rating to a “hold” rating and raised their price objective for the stock from $16.00 to $17.00 in a research note on Friday, August 9th. Stifel Nicolaus raised shares of Cronos Group from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $16.50 to $14.00 in a report on Friday, October 18th. Finally, ValuEngine upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Cronos Group presently has an average rating of “Hold” and a consensus price target of $17.27.
The company has a fifty day moving average price of $7.77 and a 200 day moving average price of $11.90. The company has a market capitalization of $2.31 billion, a P/E ratio of -86.00 and a beta of 3.20.
A number of institutional investors and hedge funds have recently modified their holdings of CRON. Captrust Financial Advisors lifted its stake in Cronos Group by 7,925.0% in the second quarter. Captrust Financial Advisors now owns 1,605 shares of the company’s stock valued at $26,000 after buying an additional 1,585 shares during the last quarter. Commonwealth Bank of Australia bought a new position in shares of Cronos Group during the second quarter worth about $29,000. US Bancorp DE increased its holdings in shares of Cronos Group by 90.9% in the 2nd quarter. US Bancorp DE now owns 2,100 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Focused Wealth Management Inc increased its holdings in shares of Cronos Group by 102.4% in the 3rd quarter. Focused Wealth Management Inc now owns 3,756 shares of the company’s stock worth $34,000 after acquiring an additional 1,900 shares during the period. Finally, Resources Investment Advisors LLC. bought a new stake in Cronos Group in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 11.72% of the company’s stock.
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.
Read More: 52 Week Highs
Receive News & Ratings for Cronos Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cronos Group and related companies with MarketBeat.com's FREE daily email newsletter.