Cronos Group (NASDAQ:CRON) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Cronos Group (NASDAQ:CRON) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating potential concerns about the company’s future performance.
• The company's recent earnings report revealed a loss of $0.10 per share, which was significantly worse than the analysts' expectation of a loss of $0.02.
• Cronos Group's market capitalization is approximately $882.76 million, with its stock currently trading at $2.30, having a 1-year high of $2.46 and a low of $1.60.

Cronos Group (NASDAQ:CRON - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Cronos Group Stock Performance

Shares of CRON traded up $0.03 during trading hours on Friday, reaching $2.59. 2,423,413 shares of the company traded hands, compared to its average volume of 1,756,137. The stock's fifty day moving average is $2.03 and its 200 day moving average is $1.94. The stock has a market cap of $992.15 million, a P/E ratio of 51.70 and a beta of 1.01. Cronos Group has a 1-year low of $1.60 and a 1-year high of $2.77.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). The business had revenue of $33.46 million during the quarter, compared to the consensus estimate of $45.73 million. Cronos Group had a net margin of 14.19% and a negative return on equity of 3.78%. On average, equities research analysts predict that Cronos Group will post -0.03 EPS for the current year.

Institutional Trading of Cronos Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRON. Formidable Asset Management LLC lifted its holdings in shares of Cronos Group by 2.1% during the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company's stock valued at $562,000 after acquiring an additional 5,637 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Cronos Group by 140.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company's stock valued at $28,000 after acquiring an additional 8,019 shares during the period. Kerrisdale Advisers LLC lifted its holdings in shares of Cronos Group by 2.3% during the fourth quarter. Kerrisdale Advisers LLC now owns 468,786 shares of the company's stock valued at $947,000 after acquiring an additional 10,539 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Cronos Group by 53.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,800 shares of the company's stock valued at $86,000 after acquiring an additional 16,700 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Cronos Group during the second quarter valued at $36,000. 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.