Cronos Group (NASDAQ:CRON) Trading Down 0.4% - Here's What Happened

Key Points

• Cronos Group shares dipped 0.4% to $2.57 (low $2.52) on Monday, with about 758,874 shares traded—roughly 10% below its average daily volume.
• Analyst coverage is mixed (two Buy, two Hold, one Sell) with an average rating of Hold and an average target price of $2.30.
• Cronos beat quarterly expectations (EPS $0.02 vs. $0.01; revenue $58.39M vs. $38.51M) but remains unprofitable—negative net margin (-6.44%) and ROE—with a market cap of about $967M and consensus FY EPS of -0.03.

Cronos Group Inc. (NASDAQ:CRON - Get Free Report)'s share price dropped 0.4% during trading on Monday . The company traded as low as $2.52 and last traded at $2.57. Approximately 758,874 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 844,650 shares. The stock had previously closed at $2.58.

Wall Street Analysts Forecast Growth

CRON has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Cronos Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Canaccord Genuity Group initiated coverage on Cronos Group in a report on Tuesday, January 27th. They issued a "buy" rating for the company. Zacks Research downgraded Cronos Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. Wall Street Zen raised Cronos Group from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $2.30 target price on shares of Cronos Group in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.30.

Cronos Group Price Performance

The firm has a market cap of $966.99 million, a PE ratio of -256.74 and a beta of 0.81. The business has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $2.60.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The firm had revenue of $58.39 million during the quarter, compared to analysts' expectations of $38.51 million. Cronos Group had a negative return on equity of 1.12% and a negative net margin of 6.44%. Equities analysts expect that Cronos Group Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Cronos Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRON. Pillsbury Lake Capital LLC purchased a new stake in Cronos Group during the 4th quarter worth about $4,837,000. Arrowstreet Capital Limited Partnership increased its position in Cronos Group by 1,135.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,108,131 shares of the company's stock worth $3,075,000 after purchasing an additional 1,018,448 shares in the last quarter. MMCAP International Inc. SPC increased its position in Cronos Group by 56.1% during the 4th quarter. MMCAP International Inc. SPC now owns 2,761,059 shares of the company's stock worth $7,262,000 after purchasing an additional 991,977 shares in the last quarter. Oasis Management Co Ltd. purchased a new stake in Cronos Group during the 4th quarter worth about $2,409,000. Finally, Two Sigma Investments LP increased its position in Cronos Group by 229.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,310,386 shares of the company's stock worth $3,643,000 after purchasing an additional 912,773 shares in the last quarter. Hedge funds and other institutional investors own 8.71% of the company's stock.

About Cronos Group

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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