Cronos Group Inc. (NASDAQ:CRON) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Cronos Group Inc. (NASDAQ:CRON) has earned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $2.30.

Several brokerages have commented on CRON. Weiss Ratings raised Cronos Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. TD Securities reissued a “buy” rating on shares of Cronos Group in a research report on Monday, September 28th. Finally, Wall Street Zen cut Cronos Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On Cronos Group

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its holdings in shares of Cronos Group by 14.6% during the 2nd quarter. Squarepoint Ops LLC now owns 42,661 shares of the company’s stock worth $119,000 after purchasing an additional 5,441 shares during the period. Spark Investment Management LLC bought a new stake in shares of Cronos Group in the second quarter valued at about $77,000. Amundi lifted its stake in shares of Cronos Group by 14.8% in the second quarter. Amundi now owns 24,728 shares of the company’s stock valued at $69,000 after buying an additional 3,180 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Cronos Group by 69.0% in the second quarter. Concurrent Investment Advisors LLC now owns 19,623 shares of the company’s stock valued at $55,000 after buying an additional 8,009 shares during the period. Finally, Headlands Technologies LLC lifted its stake in shares of Cronos Group by 60.0% in the second quarter. Headlands Technologies LLC now owns 127,364 shares of the company’s stock valued at $354,000 after buying an additional 47,756 shares during the period. 8.71% of the stock is currently owned by institutional investors and hedge funds.

Cronos Group Price Performance

CRON stock opened at $3.23 on Wednesday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 16.15 and a beta of 0.90. The company has a 50-day moving average of $3.24 and a two-hundred day moving average of $2.89. Cronos Group has a 52-week low of $2.28 and a 52-week high of $3.61.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. The business had revenue of $53.01 million for the quarter, compared to analyst estimates of $44.20 million. Equities analysts expect that Cronos Group will post 0.11 EPS for the current fiscal year.

Cronos Group Company Profile

Cronos Group Inc is a Toronto-based cannabis company that develops, produces and distributes cannabis and cannabis-derived products. The company focuses on branded consumer products, including dried cannabis flower, pre-rolls, vaporizers, edibles and extracts.

Cronos markets products under brands such as Spinach, PEACE NATURALS and Lord Jones. Brand availability varies by market and product category, with the company serving regulated cannabis markets in Canada and pursuing international opportunities where permitted by local laws.

Founded in 2013, Cronos has expanded through brand development, acquisitions and strategic investments.