Cronos Group Inc. (NASDAQ:CRON) Receives Average Rating of “Hold” from Brokerages

Cronos Group Inc. (NASDAQ:CRON) has received a consensus rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.30.

A number of equities research analysts have recently weighed in on the stock. TD Securities restated a “buy” rating on shares of Cronos Group in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Cronos Group in a research note on Friday, May 29th.

Institutional Investors Weigh In On Cronos Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Octavia Wealth Advisors LLC bought a new stake in shares of Cronos Group in the 4th quarter valued at about $28,000. Brooklyn Investment Group grew its position in Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company’s stock worth $30,000 after acquiring an additional 10,778 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in Cronos Group in the 3rd quarter worth approximately $31,000. Valeo Financial Advisors LLC purchased a new position in Cronos Group in the 4th quarter worth approximately $30,000. Finally, Scientech Research LLC purchased a new position in Cronos Group in the 3rd quarter worth approximately $32,000. Institutional investors own 8.71% of the company’s stock.

Cronos Group Price Performance

NASDAQ:CRON opened at $2.74 on Friday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 274.27 and a beta of 0.89. The business has a 50 day moving average of $2.74 and a 200 day moving average of $2.66. Cronos Group has a 1-year low of $1.92 and a 1-year high of $3.43.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $45.21 million for the quarter, compared to analysts’ expectations of $42.20 million. Cronos Group had a negative net margin of 1.14% and a negative return on equity of 1.26%. As a group, sell-side analysts anticipate that Cronos Group will post 0.07 EPS for the current year.

Cronos Group Company Profile

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group’s business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company’s branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.