Cronos Group (TSE:CRON) Trading Down 1.6% - Here's What Happened

Key Points

• Cronos shares traded down about 1.6% mid-day to C$3.62 (intraday low C$3.60) on volume of 94,387 shares, a ~45% decline from the average session volume.
• Two recent analyst reports (Canaccord and TD Securities) carry Buy ratings, leaving a consensus rating of Buy and a consensus price target of C$4.38.
• The company has a market cap of C$1.37 billion, a negative P/E (‑181.00) and very high liquidity metrics (quick ratio 24.01, current ratio 19.59), with 50- and 200-day moving averages near C$3.57–C$3.59.

Cronos Group Inc. (TSE:CRON - Get Free Report) shares traded down 1.6% during mid-day trading on Tuesday . The stock traded as low as C$3.60 and last traded at C$3.62. 94,387 shares were traded during mid-day trading, a decline of 45% from the average session volume of 172,154 shares. The stock had previously closed at C$3.68.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group set a C$4.25 price objective on shares of Cronos Group and gave the stock a "buy" rating in a research note on Tuesday, January 27th. TD Securities set a C$4.50 price objective on shares of Cronos Group and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$4.38.

Cronos Group Price Performance

The company's 50 day moving average price is C$3.57 and its 200-day moving average price is C$3.59. The company has a market cap of C$1.37 billion, a price-to-earnings ratio of -181.00, a PEG ratio of 0.12 and a beta of 1.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 24.01 and a current ratio of 19.59.

Cronos Group Company Profile

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.