Cronos Group Inc. (NASDAQ:CRON) Short Interest Update

Cronos Group Inc. (NASDAQ:CRON) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 5,640,000 shares, a growth of 8.7% from the June 15th total of 5,190,000 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily volume of 2,300,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in Cronos Group during the 1st quarter worth about $17,217,000. AdvisorShares Investments LLC raised its stake in shares of Cronos Group by 252.4% in the fourth quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company’s stock worth $1,031,000 after purchasing an additional 353,404 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cronos Group by 47.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company’s stock worth $2,617,000 after purchasing an additional 321,254 shares during the period. Baader Bank Aktiengesellschaft boosted its position in Cronos Group by 151.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 200,355 shares of the company’s stock valued at $467,000 after buying an additional 120,791 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Cronos Group by 50.4% during the first quarter. Janney Montgomery Scott LLC now owns 304,063 shares of the company’s stock worth $794,000 after purchasing an additional 101,903 shares during the last quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.

Analyst Ratings Changes

CRON has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of Cronos Group from $2.00 to $2.50 and gave the company an “underperform” rating in a report on Monday, April 8th. CIBC raised their target price on shares of Cronos Group from $3.00 to $3.50 and gave the company an “outperformer” rating in a research note on Wednesday, May 15th.

Cronos Group Stock Performance

NASDAQ:CRON traded down $0.04 during mid-day trading on Thursday, hitting $2.41. 577,397 shares of the company’s stock traded hands, compared to its average volume of 2,496,223. The company has a fifty day moving average of $2.50 and a 200 day moving average of $2.36. Cronos Group has a twelve month low of $1.64 and a twelve month high of $3.14. The company has a market capitalization of $921.29 million, a P/E ratio of -16.27 and a beta of 1.00.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $25.29 million for the quarter, compared to the consensus estimate of $24.30 million. Cronos Group had a negative net margin of 61.31% and a negative return on equity of 3.06%. During the same quarter in the prior year, the company posted ($0.03) earnings per share. On average, research analysts expect that Cronos Group will post -0.01 earnings per share for the current fiscal year.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.