Cronos Group (NASDAQ:CRON) Stock Rating Lowered by 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 analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Cronos Group Stock Performance

Cronos Group stock traded down $0.12 during midday trading on Friday, reaching $2.56. The company's stock had a trading volume of 7,953,614 shares, compared to its average volume of 1,747,538. Cronos Group has a fifty-two week low of $1.60 and a fifty-two week high of $2.77. The stock's 50 day simple moving average is $2.02 and its 200 day simple moving average is $1.94. The firm has a market capitalization of $980.63 million, a PE ratio of 51.10 and a beta of 1.01.

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

Institutional Investors Weigh In On Cronos Group

Several hedge funds have recently made changes to their positions in CRON. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Cronos Group in the fourth quarter worth $76,000. Geode Capital Management LLC boosted its holdings in Cronos Group by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 546,700 shares of the company's stock valued at $1,104,000 after acquiring an additional 33,121 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cronos Group in the 4th quarter valued at about $641,000. Quinn Opportunity Partners LLC lifted its stake in Cronos Group by 49.7% in the fourth quarter. Quinn Opportunity Partners LLC now owns 194,600 shares of the company's stock valued at $393,000 after buying an additional 64,600 shares during the period. Finally, Zacks Investment Management bought a new stake in shares of Cronos Group in the fourth quarter worth about $38,000. Hedge funds and other 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.