Traders Buy High Volume of Cronos Group Call Options (NASDAQ:CRON)

Key Points

• Traders bought an unusually large volume of call options—5,040 calls, a 142% increase versus the typical 2,079—signaling elevated bullish interest in CRON.
• Analysts are mixed (two Buy, two Hold, one Sell) with an average rating of Hold and a $2.30 average price target; the company beat the quarter's EPS and revenue estimates but remains unprofitable.
• Shares rose about 2.9% to $2.66 (market cap ≈ $999M) with 50- and 200-day SMAs near $2.59–$2.60, and institutional ownership around 8.7%.

Cronos Group Inc. (NASDAQ:CRON - Get Free Report) saw unusually large options trading activity on Thursday. Stock investors acquired 5,040 call options on the stock. This is an increase of 142% compared to the typical volume of 2,079 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRON shares. Wall Street Zen raised shares of Cronos Group from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th. TD Securities started coverage on shares of Cronos Group in a research note on Tuesday, February 24th. They set a "buy" rating for the company. Weiss Ratings cut shares of Cronos Group from a "hold (c)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $2.30 price target on shares of Cronos Group in a research note on Wednesday, January 14th. Finally, Canaccord Genuity Group started coverage on shares of Cronos Group in a research note on Tuesday, January 27th. They set a "buy" rating for the company. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.30.

Institutional Investors Weigh In On Cronos Group

Several hedge funds have recently added to or reduced their stakes in CRON. Octavia Wealth Advisors LLC acquired a new stake in Cronos Group during the 4th quarter valued at $28,000. Valeo Financial Advisors LLC acquired a new stake in Cronos Group during the 4th quarter valued at $30,000. Brooklyn Investment Group lifted its holdings in Cronos Group by 5,733.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,966 shares of the company's stock valued at $30,000 after purchasing an additional 10,778 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in Cronos Group during the 3rd quarter valued at $31,000. Finally, Scientech Research LLC acquired a new stake in Cronos Group during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 8.71% of the company's stock.

Cronos Group Stock Up 2.9%

Shares of NASDAQ:CRON traded up $0.08 during midday trading on Thursday, hitting $2.66. The stock had a trading volume of 566,032 shares, compared to its average volume of 1,409,816. Cronos Group has a 12 month low of $1.81 and a 12 month high of $3.43. The business's 50-day simple moving average is $2.59 and its 200-day simple moving average is $2.60. The company has a market cap of $999.00 million, a P/E ratio of -265.23 and a beta of 0.81.

Cronos Group (NASDAQ:CRON - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. Cronos Group had a negative net margin of 6.44% and a negative return on equity of 1.12%. The business had revenue of $58.39 million during the quarter, compared to analysts' expectations of $38.51 million. As a group, equities analysts predict that Cronos Group will post 0.08 earnings per share for the current year.

About Cronos Group

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group's business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company's branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.