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Cronos Group (NASDAQ:CRON) Sees Unusually-High Trading Volume - What's Next?

Cronos Group logo with Medical background

Key Points

  • Cronos Group Inc. experienced a trading volume of approximately 1.7 million shares, which reflects a slight decline compared to the previous session, with the stock trading last at $2.50, down 2.8% from its previous close of $2.67.
  • Wall Street Zen downgraded Cronos Group from a "hold" to a "sell" rating, following a disappointing earnings report where the company reported a loss of ($0.10) per share, missing analysts' expectations by $0.08.
  • Several institutional investors have significantly increased their stakes in the company, including Quinn Opportunity Partners LLC, which boosted its holdings by 73% in the second quarter.
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Shares of Cronos Group Inc. (NASDAQ:CRON - Get Free Report) saw an uptick in trading volume on Tuesday . 1,699,193 shares changed hands during trading, a decline of 1% from the previous session's volume of 1,708,781 shares.The stock last traded at $2.50 and had previously closed at $2.67.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Analysis on Cronos Group

Cronos Group Stock Performance

The stock has a market capitalization of $907.80 million, a P/E ratio of 47.40 and a beta of 1.01. The firm's fifty day simple moving average is $2.06 and its 200 day simple moving average is $1.96.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted its quarterly 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). Cronos Group had a net margin of 14.19% and a negative return on equity of 3.78%. The company had revenue of $33.46 million during the quarter, compared to analyst estimates of $45.73 million. Analysts anticipate that Cronos Group Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Several hedge funds have recently added to or reduced their stakes in CRON. Tower Research Capital LLC TRC raised its holdings in Cronos Group by 140.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company's stock worth $28,000 after purchasing an additional 8,019 shares during the last quarter. International Assets Investment Management LLC bought a new position in Cronos Group during the 2nd quarter worth approximately $33,000. Aigen Investment Management LP bought a new position in Cronos Group during the 1st quarter worth approximately $35,000. Chicago Partners Investment Group LLC bought a new position in Cronos Group during the 2nd quarter worth approximately $36,000. Finally, Envestnet Asset Management Inc. bought a new position in Cronos Group during the 2nd quarter worth approximately $36,000. 8.71% of the stock is currently owned by institutional investors and hedge funds.

About Cronos Group

(Get Free Report)

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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