Cronos Group Inc. (NASDAQ:CRON) Sees Large Decline in Short Interest

Cronos Group Inc. (NASDAQ:CRON - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,550,000 shares, a decrease of 13.8% from the March 15th total of 6,440,000 shares. Based on an average trading volume of 2,860,000 shares, the short-interest ratio is presently 1.9 days. Approximately 2.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their target price on Cronos Group from $2.00 to $2.50 and gave the company an "underperform" rating in a research note on Monday, April 8th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRON. Millennium Management LLC purchased a new position in shares of Cronos Group during the 4th quarter worth $4,611,000. Kerrisdale Advisers LLC acquired a new position in Cronos Group in the third quarter valued at $1,448,000. Intact Investment Management Inc. boosted its holdings in Cronos Group by 54.2% in the third quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company's stock valued at $2,211,000 after acquiring an additional 389,610 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in Cronos Group by 252.4% in the fourth quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company's stock valued at $1,031,000 after acquiring an additional 353,404 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Cronos Group by 28.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,422,451 shares of the company's stock valued at $3,613,000 after acquiring an additional 318,019 shares during the last quarter. Hedge funds and other institutional investors own 8.71% of the company's stock.

Cronos Group Stock Performance

CRON stock traded down $0.03 on Friday, reaching $2.51. The company had a trading volume of 2,661,659 shares, compared to its average volume of 4,432,401. Cronos Group has a 1 year low of $1.64 and a 1 year high of $2.99. The company's fifty day moving average is $2.30 and its 200 day moving average is $2.09. The company has a market cap of $957.06 million, a P/E ratio of -13.21 and a beta of 1.17.

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 analysts' expectations of $25.15 million. On average, sell-side analysts predict that Cronos Group will post -0.01 earnings per share for the current year.

Cronos Group Company Profile

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.