Cronos Group (NASDAQ:CRON) Reaches New 1-Year High - Still a Buy?

Shares of Cronos Group Inc. (NASDAQ:CRON - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.16 and last traded at $2.97, with a volume of 18299418 shares trading hands. The stock had previously closed at $2.63.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Cronos Group from a "sell" rating to a "hold" rating in a report on Saturday, August 30th.

Cronos Group Stock Performance

The firm's 50-day moving average price is $2.44 and its 200 day moving average price is $2.09. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 59.40 and a beta of 1.12.

Cronos Group (NASDAQ:CRON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) EPS 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 business had revenue of $33.46 million for the quarter, compared to analyst estimates of $45.73 million. As a group, equities research analysts predict that Cronos Group Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Several institutional investors have recently modified their holdings of CRON. International Assets Investment Management LLC acquired a new stake in shares of Cronos Group during the 2nd quarter worth approximately $33,000. Aigen Investment Management LP acquired a new stake in shares of Cronos Group during the 1st quarter worth approximately $35,000. Chicago Partners Investment Group LLC acquired a new position in Cronos Group during the second quarter valued at approximately $36,000. Envestnet Asset Management Inc. bought a new stake in Cronos Group in the second quarter valued at approximately $36,000. Finally, Mraz Amerine & Associates Inc. bought a new stake in Cronos Group in the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 8.71% of the company's stock.

About Cronos Group

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.

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