Cronos Group Inc. (NASDAQ:CRON) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Cronos Group has a consensus analyst rating of "Hold", based on five brokerages. The average 12-month price target is $2.30, with ratings split between one sell, two holds, and two buys.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.02 versus the expected $0.01 and revenue of $58.39 million versus estimates of $38.51 million.
• Despite the earnings beat, Cronos Group’s stock was trading down 1.2% at $2.54, and the company remains unprofitable with a negative net margin and negative return on equity.

Shares of Cronos Group Inc. (NASDAQ:CRON - Get Free Report) have earned a consensus recommendation of "Hold" from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One research 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 target price among brokers that have covered the stock in the last year is $2.30.

CRON has been the subject of several recent research reports. TD Securities assumed coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They set a "buy" rating for the company. Weiss Ratings cut Cronos Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Wall Street Zen upgraded Cronos Group from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Sanford C. Bernstein reissued a "market perform" rating and set a $2.30 price objective on shares of Cronos Group in a research note on Wednesday, January 14th. Finally, Canaccord Genuity Group initiated coverage on Cronos Group in a report on Tuesday, January 27th. They issued a "buy" rating on the stock.

Hedge Funds Weigh In On Cronos Group

A number of institutional investors have recently bought and sold shares of CRON. Jones Financial Companies Lllp lifted its stake in Cronos Group by 291.6% during the first quarter. Jones Financial Companies Lllp now owns 65,099 shares of the company's stock valued at $118,000 after buying an additional 48,476 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cronos Group by 84.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company's stock worth $1,948,000 after acquiring an additional 493,161 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Cronos Group during the second quarter valued at approximately $36,000. Legal & General Group Plc raised its holdings in shares of Cronos Group by 16.1% during the second quarter. Legal & General Group Plc now owns 195,368 shares of the company's stock valued at $374,000 after acquiring an additional 27,111 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Cronos Group by 192.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 89,683 shares of the company's stock valued at $171,000 after acquiring an additional 59,013 shares in the last quarter. Hedge funds and other institutional investors own 8.71% of the company's stock.

Cronos Group Trading Down 1.2%

Shares of Cronos Group stock opened at $2.54 on Friday. Cronos Group has a 52 week low of $1.84 and a 52 week high of $3.43. The stock has a market cap of $955.73 million, a PE ratio of -253.75 and a beta of 0.87. The company's 50-day moving average price is $2.59 and its two-hundred day moving average price is $2.60.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $58.39 million during the quarter, compared to analyst estimates of $38.51 million. Cronos Group had a negative net margin of 6.44% and a negative return on equity of 1.12%. On average, equities analysts predict that Cronos Group will post 0.08 EPS for the current fiscal 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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