Cronos Group (NASDAQ:CRON - Free Report) had its target price lifted by Bank of America from $2.00 to $2.50 in a research report sent to investors on Monday, Benzinga reports. Bank of America currently has an underperform rating on the stock.
Cronos Group Trading Up 0.7 %
CRON stock traded up $0.02 during midday trading on Monday, hitting $2.70. The stock had a trading volume of 3,585,141 shares, compared to its average volume of 2,845,323. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -14.21 and a beta of 1.17. Cronos Group has a 52 week low of $1.64 and a 52 week high of $2.99. The stock has a 50-day simple moving average of $2.26 and a 200 day simple moving average of $2.08.
Cronos Group (NASDAQ:CRON - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. The firm had revenue of $23.92 million during the quarter, compared to the consensus estimate of $25.15 million. On average, equities analysts forecast that Cronos Group will post -0.01 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Intact Investment Management Inc. raised its stake in Cronos Group by 54.2% during the third 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 in the last quarter. JW Asset Management LLC acquired a new position in Cronos Group during the third quarter worth $400,000. AdvisorShares Investments LLC acquired a new stake in shares of Cronos Group in the third quarter valued at $280,000. Vontobel Holding Ltd. increased its stake in shares of Cronos Group by 139.1% in the third quarter. Vontobel Holding Ltd. now owns 214,560 shares of the company's stock valued at $428,000 after buying an additional 124,820 shares in the last quarter. Finally, Revisor Wealth Management LLC acquired a new stake in shares of Cronos Group in the third quarter valued at $47,000. 8.71% of the stock is currently owned by institutional investors and hedge funds.
Cronos Group Company Profile
(
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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.
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