Cronos Group (NASDAQ:CRON) Trading Up 0.5% - Here's Why

Cronos Group Inc. (NASDAQ:CRON - Get Free Report)'s stock price rose 0.5% during mid-day trading on Monday . The stock traded as high as $1.92 and last traded at $1.91. Approximately 844,381 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,338,835 shares. The stock had previously closed at $1.90.

Cronos Group Stock Up 2.0%

The firm's 50 day simple moving average is $1.95 and its 200 day simple moving average is $1.92. The company has a market capitalization of $786.79 million, a PE ratio of 15.69, a price-to-earnings-growth ratio of 34.01 and a beta of 1.03.

Cronos Group (NASDAQ:CRON - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $33.62 million during the quarter, compared to analyst estimates of $45.44 million. Cronos Group had a net margin of 39.69% and a negative return on equity of 0.07%. As a group, sell-side analysts predict that Cronos Group Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position 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 worth $28,000 after purchasing an additional 8,019 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Cronos Group in the 4th quarter valued at about $30,000. Jones Financial Companies Lllp lifted its position in shares of Cronos Group by 64.5% in the fourth quarter. Jones Financial Companies Lllp now owns 16,623 shares of the company's stock valued at $34,000 after acquiring an additional 6,520 shares in the last quarter. Zacks Investment Management acquired a new stake in Cronos Group during the 4th quarter worth $38,000. Finally, Aigen Investment Management LP acquired a new stake in Cronos Group in the 1st quarter valued at about $35,000. 8.71% of the stock is currently owned by hedge funds and other institutional investors.

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.