Cronos Group Inc. (NASDAQ:CRON) Sees Large Drop in Short Interest

Cronos Group Inc. (NASDAQ:CRON - Get Free Report) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 3,570,000 shares, a decline of 14.4% from the April 30th total of 4,170,000 shares. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.8% of the company's shares are short sold.

Institutional Investors Weigh In On Cronos Group

Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Cronos Group by 72.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 380,575 shares of the company's stock worth $769,000 after buying an additional 159,575 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in Cronos Group during the 4th quarter worth about $29,000. Jones Financial Companies Lllp grew its holdings in Cronos Group by 64.5% during the 4th quarter. Jones Financial Companies Lllp now owns 16,623 shares of the company's stock worth $34,000 after acquiring an additional 6,520 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Cronos Group in the 4th quarter worth about $30,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Cronos Group in the 4th quarter valued at about $641,000. 8.71% of the stock is owned by institutional investors.

Cronos Group Trading Up 3.7%

NASDAQ:CRON traded up $0.07 during trading hours on Friday, hitting $1.98. 4,999,841 shares of the company were exchanged, compared to its average volume of 1,332,739. The stock has a market capitalization of $763.13 million, a price-to-earnings ratio of -15.23, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. Cronos Group has a one year low of $1.60 and a one year high of $2.56. The company has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $1.93.

Cronos Group (NASDAQ:CRON - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. 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 $33.62 million during the quarter, compared to analysts' expectations of $45.44 million. Cronos Group had a negative return on equity of 2.56% and a negative net margin of 42.65%. Equities research analysts predict that Cronos Group will post -0.03 earnings per share for the current fiscal year.

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.