Cronos Group (NASDAQ:CRON) Trading 6.9% Higher

Cronos Group Inc. (NASDAQ:CRON)’s stock price was up 6.9% during mid-day trading on Tuesday . The stock traded as high as $2.31 and last traded at $2.31. Approximately 1,189,430 shares traded hands during trading, a decline of 49% from the average daily volume of 2,327,520 shares. The stock had previously closed at $2.16.

Analyst Upgrades and Downgrades

Separately, CIBC raised their price target on shares of Cronos Group from $3.00 to $3.50 and gave the stock an “outperformer” rating in a report on Wednesday, May 15th.

Cronos Group Stock Up 2.6 %

The firm has a market cap of $921.29 million, a price-to-earnings ratio of -16.07 and a beta of 1.00. The company’s 50-day moving average price is $2.35 and its 200-day moving average price is $2.40.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter. Cronos Group had a negative return on equity of 2.06% and a negative net margin of 56.43%. The company had revenue of $27.76 million during the quarter, compared to analyst estimates of $25.85 million. During the same period last year, the business earned ($0.02) earnings per share. Analysts predict that Cronos Group Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of Cronos Group

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Cronos Group during the first quarter worth about $17,217,000. Dimensional Fund Advisors LP grew its position in shares of Cronos Group by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,631,783 shares of the company’s stock valued at $6,132,000 after purchasing an additional 192,469 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Cronos Group in the 2nd quarter valued at about $3,237,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cronos Group by 47.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company’s stock valued at $2,617,000 after purchasing an additional 321,254 shares during the period. Finally, AdvisorShares Investments LLC raised its stake in Cronos Group by 8.4% during the second quarter. AdvisorShares Investments LLC now owns 870,613 shares of the company’s stock worth $2,002,000 after purchasing an additional 67,209 shares during the period. Institutional investors and hedge funds own 8.71% of the company’s stock.

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.