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.
Recommended Story: Commodities
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Valuable China Stocks That May Get Delisted
As if investors didn’t have enough to think about in 2020, tensions between the United States and China are continuing to flare up. One of the issues, of course, is the “what did they know and when did they know it” events surrounding the novel coronavirus. There are also issues surrounding global supply chains and the fate of 5G networking.
But another issue that should be drawing the concern of investors is the threat of Chinese stocks being delisted from American exchanges. On Friday, June 26 Luckin Coffee was delisted from the NASDAQ. The company had been in hot water since reports early this year that it had credited itself with thousands of phantom sales.
But that isn’t the reason for the delisting. The reality is that Chinese companies don’t abide by the same agreed upon accounting standards as American companies. And that can make it harder for investors to get an accurate picture of what is going on with their business at a given moment.
However, like most issues between the two countries, it’s not as simple as that. There are Chinese companies that are considering voluntarily and unilaterally removing themselves from American exchanges and list on the Hong Kong or Shanghai exchanges.
While neither of these moves would mean that U.S. investors would be prohibited from trading these stocks, it could make it more difficult.
U.S. relations with China will be an issue during this election year, and likely beyond. It would be well worth your time and attention to pay careful attention to your current or planned exposure to these China stocks.
View the "7 Valuable China Stocks That May Get Delisted".