Cronos Group Inc. (NASDAQ:CRON) Given Average Rating of "Hold" by Brokerages

Key Points

• Cronos Group has an average “Hold” rating from five brokerages: three recommend holding the stock and two recommend buying it. The average 12-month price target is $2.30.
• Recent analyst sentiment weakened, with Weiss Ratings and Wall Street Zen both downgrading Cronos Group from “Buy” to “Hold.”
• Cronos reported stronger-than-expected quarterly results, posting $0.09 in earnings per share versus a $0.01 consensus estimate and revenue of $53.01 million versus $44.20 million expected.

Shares of Cronos Group Inc. (NASDAQ:CRON - Get Free Report) have been assigned an average recommendation of "Hold" from the five brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $2.30.

Several brokerages have recently weighed in on CRON. Weiss Ratings downgraded shares of Cronos Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Wall Street Zen lowered Cronos Group from a "buy" rating to a "hold" rating in a report on Saturday, August 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pure Financial Advisors LLC acquired a new position in Cronos Group during the second quarter worth $28,000. OneDigital Investment Advisors LLC acquired a new stake in Cronos Group in the 2nd quarter valued at about $29,000. Brooklyn Investment Group increased its holdings in Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company's stock valued at $30,000 after acquiring an additional 10,778 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Cronos Group during the fourth quarter worth about $30,000. Finally, Scientech Research LLC acquired a new position in shares of Cronos Group during the 3rd quarter worth approximately $32,000. 8.71% of the stock is currently owned by institutional investors and hedge funds.

Cronos Group Stock Performance

NASDAQ:CRON opened at $3.14 on Friday. The stock has a 50-day simple moving average of $3.03 and a 200-day simple moving average of $2.79. The stock has a market cap of $1.16 billion, a P/E ratio of 15.70 and a beta of 0.94. Cronos Group has a 1 year low of $2.28 and a 1 year high of $3.61.

Cronos Group (NASDAQ:CRON - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.08. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. The business had revenue of $53.01 million during the quarter, compared to the consensus estimate of $44.20 million. On average, equities research analysts predict that Cronos Group will post 0.11 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.

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