Cronos Group Inc. (NASDAQ:CRON - Get Free Report) was the target of some unusual options trading activity on Friday. Traders bought 12,683 call options on the stock. This is an increase of 129% compared to the average daily volume of 5,540 call options.
Cronos Group Trading Down 1.2 %
Cronos Group stock traded down $0.03 during midday trading on Friday, reaching $2.51. 2,656,847 shares of the stock traded hands, compared to its average volume of 2,866,342. The firm has a fifty day moving average price of $2.29 and a two-hundred day moving average price of $2.09. The firm has a market cap of $957.06 million, a price-to-earnings ratio of -13.26 and a beta of 1.17. Cronos Group has a fifty-two week low of $1.64 and a fifty-two week high of $2.99.
Cronos Group (NASDAQ:CRON - Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. Cronos Group had a negative net margin of 84.15% and a negative return on equity of 3.99%. The firm had revenue of $23.92 million for the quarter, compared to analyst estimates of $25.15 million. Analysts anticipate that Cronos Group will post -0.01 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, Bank of America boosted their target price on shares of Cronos Group from $2.00 to $2.50 and gave the company an "underperform" rating in a research note on Monday.
Get Our Latest Research Report on Cronos Group
Institutional Trading of Cronos Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Cronos Group by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 7,078,051 shares of the company's stock worth $14,793,000 after buying an additional 124,691 shares in the last quarter. Virtu Financial LLC raised its position in shares of Cronos Group by 12.5% during the 4th quarter. Virtu Financial LLC now owns 78,539 shares of the company's stock worth $164,000 after buying an additional 8,701 shares in the last quarter. Legal & General Group Plc raised its position in shares of Cronos Group by 5.9% during the 4th quarter. Legal & General Group Plc now owns 157,510 shares of the company's stock worth $331,000 after buying an additional 8,800 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Cronos Group during the 4th quarter worth about $398,000. Finally, Royal Bank of Canada raised its position in shares of Cronos Group by 10.3% during the 4th quarter. Royal Bank of Canada now owns 102,593 shares of the company's stock worth $214,000 after buying an additional 9,577 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors.
Cronos Group Company Profile
(
Get Free Report)
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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