Cronos Group (NASDAQ:CRON) Hits New 52-Week High - What's Next?

Key Points

• Cronos Group Inc. shares hit a new 52-week high of $2.59, closing at $2.56, with a trading volume of over 536,000 shares.
• Wall Street Zen has downgraded Cronos Group from a "hold" to a "sell" rating, highlighting a shift in analyst sentiment.
• In its latest earnings report, Cronos posted a loss of ($0.10) per share, missing analyst estimates, and reported revenue of $33.46 million, below the expected $45.73 million.

Cronos Group Inc. (NASDAQ:CRON - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $2.59 and last traded at $2.56, with a volume of 536609 shares traded. The stock had previously closed at $2.30.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Cronos Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Cronos Group Stock Down 2.1%

The stock's 50 day moving average price is $2.04 and its two-hundred day moving average price is $1.95. The stock has a market cap of $984.47 million, a price-to-earnings ratio of 51.10 and a beta of 1.01.

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

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRON. Tower Research Capital LLC TRC grew its holdings in Cronos Group by 140.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company's stock valued at $28,000 after buying an additional 8,019 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Cronos Group during the 2nd quarter valued at about $36,000. International Assets Investment Management LLC purchased a new stake in shares of Cronos Group in the second quarter valued at about $33,000. Envestnet Asset Management Inc. purchased a new stake in shares of Cronos Group in the second quarter valued at about $36,000. Finally, Zacks Investment Management acquired a new stake in Cronos Group during the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.