Cronos Group Inc. (NASDAQ:CRON - Get Free Report) shares shot up 7.8% during trading on Tuesday . The stock traded as high as $2.81 and last traded at $2.75. 3,910,322 shares were traded during mid-day trading, an increase of 35% from the average session volume of 2,893,561 shares. The stock had previously closed at $2.55.
Analysts Set New Price Targets
Separately, Bank of America lifted their price target on Cronos Group from $2.00 to $2.50 and gave the stock an "underperform" rating in a research report on Monday, April 8th.
Read Our Latest Report on CRON
Cronos Group Stock Up 15.3 %
The company's 50 day moving average price is $2.36 and its two-hundred day moving average price is $2.13. The stock has a market cap of $1.12 billion, a P/E ratio of -14.32 and a beta of 1.17.
Cronos Group (NASDAQ:CRON - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. The business had revenue of $23.92 million during the quarter, compared to the consensus estimate of $25.15 million. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. As a group, equities research analysts forecast that Cronos Group Inc. will post -0.01 earnings per share for the current year.
Hedge Funds Weigh In On Cronos Group
A number of large investors have recently made changes to their positions in the business. Revisor Wealth Management LLC purchased a new stake in shares of Cronos Group during the first quarter valued at $51,000. Madrona Financial Services LLC purchased a new stake in shares of Cronos Group during the 1st quarter worth about $130,000. SeaCrest Wealth Management LLC raised its position in shares of Cronos Group by 39.4% during the 1st quarter. SeaCrest Wealth Management LLC now owns 67,225 shares of the company's stock worth $175,000 after purchasing an additional 19,000 shares during the last quarter. AdvisorShares Investments LLC raised its position in shares of Cronos Group by 252.4% during the 4th quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company's stock worth $1,031,000 after purchasing an additional 353,404 shares during the last quarter. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Cronos Group during the 4th quarter worth about $25,000. 8.71% of the stock is owned by institutional investors and hedge funds.
About Cronos Group
(
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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