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

Key Points

• Analysts give Cronos Group a consensus "Hold" rating from five firms (1 sell, 2 hold, 2 buy) with an average 12‑month price target of $2.30.
• Cronos recently beat quarterly estimates—reporting $0.02 EPS (vs. $0.01 est.) and revenue of $58.39M (vs. $38.51M est.)—but still shows a negative net margin (‑6.44%) and a market cap of about $967M, with the stock trading around $2.57 and a 12‑month range of $1.69–$3.43.

Cronos Group Inc. (NASDAQ:CRON - Get Free Report) has earned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $2.30.

A number of brokerages recently commented on CRON. Zacks Research downgraded shares of Cronos Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 6th. Weiss Ratings downgraded shares of Cronos Group from a "hold (c)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Sanford C. Bernstein reiterated a "market perform" rating and set a $2.30 target price on shares of Cronos Group in a research note on Wednesday, January 14th. TD Securities began coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They set a "buy" rating for the company. Finally, Wall Street Zen upgraded shares of Cronos Group from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th.

Hedge Funds Weigh In On Cronos Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC grew its stake in shares of Cronos Group by 10.4% during the fourth quarter. Virtu Financial LLC now owns 52,852 shares of the company's stock worth $139,000 after purchasing an additional 4,990 shares in the last quarter. Pillsbury Lake Capital LLC acquired a new position in shares of Cronos Group during the fourth quarter worth $4,837,000. Jump Financial LLC acquired a new position in shares of Cronos Group during the fourth quarter worth $42,000. Eschler Asset Management LLP acquired a new position in shares of Cronos Group during the fourth quarter worth $379,000. Finally, Headlands Technologies LLC boosted its stake in Cronos Group by 12.5% in the fourth quarter. Headlands Technologies LLC now owns 63,097 shares of the company's stock valued at $166,000 after acquiring an additional 6,998 shares in the last quarter. Institutional investors and hedge funds own 8.71% of the company's stock.

Cronos Group Stock Performance

Cronos Group stock opened at $2.57 on Wednesday. Cronos Group has a twelve month low of $1.69 and a twelve month high of $3.43. The stock's fifty day simple moving average is $2.58 and its 200-day simple moving average is $2.60. The firm has a market capitalization of $966.99 million, a P/E ratio of -256.74 and a beta of 0.81.

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, topping analysts' consensus estimates of $0.01 by $0.01. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%.The business had revenue of $58.39 million for the quarter, compared to analyst estimates of $38.51 million. Sell-side analysts predict that Cronos Group will post -0.03 earnings per share 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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