Cronos Group (NASDAQ:CRON) Reaches New 1-Year High at $2.77

Cronos Group Inc. (NASDAQ:CRON - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $2.77 and last traded at $2.75, with a volume of 1545234 shares traded. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price target on shares of Cronos Group from $1.78 to $2.00 and gave the stock an "underperform" rating in a research note on Thursday, December 28th.

Cronos Group Trading Up 8.7 %

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -15.16 and a beta of 1.17. The stock's 50 day moving average is $2.22 and its two-hundred day moving average is $2.07.

Cronos Group (NASDAQ:CRON - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.05) earnings per share for the quarter. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. The business had revenue of $23.92 million for the quarter, compared to analyst estimates of $25.15 million. On average, sell-side analysts predict that Cronos Group Inc. will post -0.01 EPS for the current year.

Institutional Trading of Cronos Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Cronos Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,078,051 shares of the company's stock worth $14,793,000 after acquiring an additional 124,691 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cronos Group by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,004,781 shares of the company's stock worth $4,190,000 after acquiring an additional 246,690 shares during the period. Millennium Management LLC acquired a new stake in shares of Cronos Group in the 4th quarter worth $4,611,000. Intact Investment Management Inc. lifted its stake in shares of Cronos Group by 54.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company's stock worth $2,211,000 after acquiring an additional 389,610 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of Cronos Group by 68.0% in the third quarter. Two Sigma Investments LP now owns 739,503 shares of the company's stock valued at $2,085,000 after purchasing an additional 299,330 shares during the period. Institutional investors and hedge funds own 8.71% of the company's stock.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones brand in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.