Cronos Group (NASDAQ:CRON) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Cronos Group has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, which reflects a more positive outlook on the stock.
• The company reported a quarterly loss of ($0.10) per share, missing analysts' estimates, with revenue of $33.46 million against expectations of $45.73 million.
• Institutional investors have increased their stake in Cronos Group, with Tower Research Capital enhancing its position by 140.5% in the last quarter.

Wall Street Zen upgraded shares of Cronos Group (NASDAQ:CRON - Free Report) from a sell rating to a hold rating in a report issued on Saturday morning.

Cronos Group Price Performance

Shares of Cronos Group stock traded down $0.02 during trading hours on Friday, reaching $2.52. The company had a trading volume of 123,796 shares, compared to its average volume of 1,917,392. Cronos Group has a one year low of $1.60 and a one year high of $2.77. The business has a fifty day simple moving average of $2.23 and a 200 day simple moving average of $2.01. The firm has a market cap of $963.34 million, a PE ratio of 50.30 and a beta of 1.13.

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

Institutional Investors Weigh In On Cronos Group

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted 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 buying an additional 8,019 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Cronos Group during the second quarter valued at $36,000. International Assets Investment Management LLC bought a new stake in Cronos Group during the second quarter valued at $33,000. Envestnet Asset Management Inc. bought a new stake in Cronos Group during the second quarter valued at $36,000. Finally, Aigen Investment Management LP bought a new stake in Cronos Group during the first quarter valued at $35,000. Institutional investors 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.