Cronos Group (NASDAQ:CRON) Hits New 52-Week Low – Here’s What Happened

Cronos Group Inc. (NASDAQ:CRON) shares reached a new 52-week low on Monday . The company traded as low as $1.61 and last traded at $1.62, with a volume of 221919 shares trading hands. The stock had previously closed at $1.71.

Cronos Group Trading Down 3.2 %

The stock has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $2.01. The firm has a market cap of $633.09 million, a PE ratio of -12.81, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02.

Institutional Investors Weigh In On Cronos Group

Several large investors have recently bought and sold shares of the business. Formidable Asset Management LLC lifted its stake in Cronos Group by 2.1% in the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company’s stock worth $562,000 after purchasing an additional 5,637 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Cronos Group by 64.5% in the fourth quarter. Jones Financial Companies Lllp now owns 16,623 shares of the company’s stock valued at $34,000 after purchasing an additional 6,520 shares during the period. Tower Research Capital LLC TRC grew its stake in Cronos Group by 140.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company’s stock worth $28,000 after purchasing an additional 8,019 shares in the last quarter. Kerrisdale Advisers LLC lifted its holdings in shares of Cronos Group by 2.3% in the 4th quarter. Kerrisdale Advisers LLC now owns 468,786 shares of the company’s stock worth $947,000 after buying an additional 10,539 shares during the period. Finally, Thompson Davis & CO. Inc. purchased a new stake in Cronos Group in the fourth quarter worth about $29,000. Institutional investors 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.