Shares of Cronos Group Inc. (NASDAQ:CRON - Get Free Report) rose 6.9% during mid-day trading on Tuesday . The company traded as high as $2.31 and last traded at $2.31. Approximately 1,189,430 shares traded hands during trading, a decline of 49% from the average daily volume of 2,327,520 shares. The stock had previously closed at $2.16.
Wall Street Analysts Forecast Growth
Separately, CIBC upped their price target on Cronos Group from $3.00 to $3.50 and gave the stock an "outperformer" rating in a research report on Wednesday, May 15th.
Check Out Our Latest Analysis on CRON
Cronos Group Stock Up 7.9 %
The business has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.40. The firm has a market capitalization of $890.71 million, a price-to-earnings ratio of -15.53 and a beta of 1.00.
Cronos Group (NASDAQ:CRON - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter. Cronos Group had a negative net margin of 61.31% and a negative return on equity of 3.06%. The firm had revenue of $27.76 million during the quarter, compared to analyst estimates of $25.85 million. During the same period in the previous year, the company earned ($0.02) earnings per share. On average, 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
Hedge funds have recently made changes to their positions in the company. Chesapeake Capital Corp IL acquired a new position in shares of Cronos Group in the 4th quarter valued at $25,000. National Bank of Canada FI boosted its holdings in Cronos Group by 1,094.4% in the second quarter. National Bank of Canada FI now owns 15,169 shares of the company's stock valued at $35,000 after purchasing an additional 13,899 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Cronos Group by 204.8% in the first quarter. Toronto Dominion Bank now owns 17,054 shares of the company's stock valued at $45,000 after purchasing an additional 11,459 shares during the last quarter. Revisor Wealth Management LLC purchased a new stake in Cronos Group in the first quarter valued at $51,000. Finally, Cedar Wealth Management LLC purchased a new stake in Cronos Group in the first quarter valued at $60,000. 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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