Cronos Group (NASDAQ:CRON) Stock Price Up 8.2% - What's Next?

Key Points

• Cronos Group's stock price increased by 8.2% on Monday, closing at $2.57 and showing a significant trading volume increase of 49% from its average daily volume.
• The company reported a quarterly loss of ($0.10) EPS, which was worse than the analyst consensus estimate of ($0.02), and had revenue of $33.46 million, missing expectations.
• Wall Street Zen downgraded Cronos Group's rating from "hold" to "sell," indicating a lack of confidence in the company's prospects.

Cronos Group Inc. (NASDAQ:CRON - Get Free Report)'s stock price rose 8.2% on Monday . The company traded as high as $2.55 and last traded at $2.57. Approximately 2,656,545 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 1,780,661 shares. The stock had previously closed at $2.37.

Analyst Upgrades and Downgrades

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

Cronos Group Price Performance

The business has a 50 day moving average price of $2.06 and a 200 day moving average price of $1.96. The firm has a market capitalization of $969.09 million, a P/E ratio of 50.60 and a beta of 1.01.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted 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 business had revenue of $33.46 million during the quarter, compared to the consensus estimate of $45.73 million. Cronos Group had a negative return on equity of 3.78% and a net margin of 14.19%. As a group, equities analysts expect that Cronos Group Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Cronos Group

A number of institutional investors have recently made changes to their positions in CRON. Tower Research Capital LLC TRC increased its stake in Cronos Group by 140.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company's stock valued at $28,000 after acquiring an additional 8,019 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Cronos Group in the 2nd quarter worth approximately $36,000. International Assets Investment Management LLC bought a new stake in Cronos Group in the second quarter valued at $33,000. Envestnet Asset Management Inc. acquired a new position in Cronos Group during the second quarter worth $36,000. Finally, Zacks Investment Management acquired a new position in Cronos Group during the fourth quarter worth $38,000. 8.71% of the stock is currently owned by institutional investors.

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.

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