Cronos Group (NASDAQ:CRON) Stock Price Down 6.8%

Cronos Group Inc. (NASDAQ:CRON - Get Free Report) traded down 6.8% during trading on Wednesday . The company traded as low as $2.71 and last traded at $2.74. 1,571,352 shares changed hands during trading, a decline of 47% from the average session volume of 2,973,045 shares. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

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

Cronos Group Price Performance

The company has a market cap of $1.04 billion, a P/E ratio of -14.42 and a beta of 1.17. The business has a 50-day moving average of $2.38 and a two-hundred day moving average of $2.14.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $23.92 million for 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%. Equities analysts anticipate that Cronos Group Inc. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Cronos Group

Several hedge funds and other institutional investors have recently made changes to their positions in CRON. Kerrisdale Advisers LLC acquired a new position in Cronos Group during the 3rd quarter valued at about $1,448,000. Intact Investment Management Inc. increased its holdings in shares of Cronos Group by 54.2% during 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 in the last quarter. AdvisorShares Investments LLC raised its position in shares of Cronos Group by 252.4% in the 4th quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company's stock valued at $1,031,000 after purchasing an additional 353,404 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cronos Group by 47.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company's stock worth $2,617,000 after purchasing an additional 321,254 shares in the last quarter. Finally, JW Asset Management LLC acquired a new stake in Cronos Group in the 3rd quarter worth approximately $400,000. Hedge funds and other institutional investors own 8.71% of the company's stock.

About Cronos Group

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.