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Cronos Group Inc. (NASDAQ:CRON) Receives Average Recommendation of "Hold" from Brokerages

Last updated on Monday, November 23, 2020 | 2020 MarketBeat

Shares of Cronos Group Inc. (NASDAQ:CRON) have earned a consensus recommendation of "Hold" from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.36.

A number of analysts recently issued reports on CRON shares. Zacks Investment Research lowered Cronos Group from a "hold" rating to a "sell" rating in a research note on Tuesday, November 10th. Raymond James boosted their price objective on Cronos Group from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, November 17th. Jefferies Financial Group decreased their price objective on Cronos Group from $5.60 to $5.00 and set an "underperform" rating on the stock in a research note on Monday, November 16th. Finally, ValuEngine upgraded Cronos Group from a "hold" rating to a "buy" rating in a research note on Wednesday, November 11th.

In other news, Chairman Michael Ryan Gorenstein sold 1,289,350 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $7.23, for a total value of $9,322,000.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jason Marc Adler sold 769,339 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $7.73, for a total value of $5,946,990.47. Following the completion of the transaction, the director now directly owns 6,579,092 shares of the company's stock, valued at approximately $50,856,381.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,258,689 shares of company stock valued at $16,761,991. Company insiders own 7.93% of the company's stock.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC bought a new position in Cronos Group during the 2nd quarter valued at approximately $6,443,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cronos Group during the 3rd quarter valued at approximately $5,227,000. Swiss National Bank increased its position in Cronos Group by 9.9% during the 2nd quarter. Swiss National Bank now owns 812,700 shares of the company's stock valued at $4,863,000 after buying an additional 73,000 shares in the last quarter. TD Asset Management Inc. increased its position in Cronos Group by 31.5% during the 3rd quarter. TD Asset Management Inc. now owns 771,934 shares of the company's stock valued at $3,866,000 after buying an additional 184,937 shares in the last quarter. Finally, Man Group plc bought a new position in Cronos Group during the 2nd quarter valued at approximately $4,164,000. 11.75% of the stock is owned by institutional investors.

Shares of NASDAQ CRON opened at $7.22 on Monday. Cronos Group has a one year low of $4.00 and a one year high of $9.00. The business's fifty day moving average price is $6.04 and its 200-day moving average price is $6.00.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.25. Cronos Group had a negative return on equity of 1.61% and a net margin of 266.31%. The company had revenue of $11.36 million for the quarter, compared to analyst estimates of $14.80 million. During the same period in the previous year, the company posted $1.62 EPS. The firm's revenue for the quarter was up 96.2% compared to the same quarter last year. As a group, research analysts expect that Cronos Group will post -0.08 EPS for the current fiscal year.

About Cronos Group

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

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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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