Cronos Group (NASDAQ:CRON) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cronos Group from a "sell" to a "hold", and the stock's consensus analyst rating is Hold with a consensus price target of $2.30.
• Cronos reported quarterly EPS of $0.02 (vs. $0.01 expected) and revenue of $58.39M (vs. $38.51M expected), but still has a negative net margin and negative return on equity, and analysts forecast -$0.03 EPS for the current fiscal year.
• The shares trade around $2.57 with a market capitalization near $977 million and a 52‑week range of $1.60 to $3.43.

Cronos Group (NASDAQ:CRON - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

Other analysts also recently issued reports about the company. TD Securities assumed coverage on Cronos Group in a research report on Tuesday, February 24th. They set a "buy" rating for the company. Canaccord Genuity Group assumed coverage on Cronos Group in a research note on Tuesday, January 27th. They set a "buy" rating for the company. Weiss Ratings cut shares of Cronos Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Sanford C. Bernstein restated a "market perform" rating and issued a $2.30 price target on shares of Cronos Group in a research note on Wednesday, January 14th. Finally, Zacks Research lowered shares of Cronos Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cronos Group currently has a consensus rating of "Hold" and a consensus price target of $2.30.

Cronos Group Price Performance

Shares of CRON opened at $2.57 on Friday. Cronos Group has a one year low of $1.60 and a one year high of $3.43. The company has a market cap of $977.01 million, a P/E ratio of -256.74 and a beta of 0.78. The firm has a 50 day simple moving average of $2.64 and a two-hundred day simple moving average of $2.60.

Cronos Group (NASDAQ:CRON - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $58.39 million during the quarter, compared to analysts' expectations of $38.51 million. On average, analysts expect that Cronos Group will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Octavia Wealth Advisors LLC bought a new position in Cronos Group in the fourth quarter valued at about $28,000. Valeo Financial Advisors LLC bought a new stake in shares of Cronos Group during the fourth quarter worth about $30,000. Brooklyn Investment Group increased its stake in shares of Cronos Group by 5,733.0% in the third quarter. Brooklyn Investment Group now owns 10,966 shares of the company's stock valued at $30,000 after buying an additional 10,778 shares during the period. Swiss Life Asset Management Ltd acquired a new position in shares of Cronos Group in the third quarter valued at approximately $31,000. Finally, Scientech Research LLC bought a new position in Cronos Group in the 3rd quarter valued at approximately $32,000. Institutional investors own 8.71% of the company's stock.

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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