Cronos Group Inc. (NASDAQ:CRON - Get Free Report) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 3,450,000 shares, a drop of 5.7% from the November 15th total of 3,660,000 shares. Based on an average trading volume of 1,020,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.7% of the company's stock are short sold.
Cronos Group Price Performance
Shares of CRON traded up $0.02 during midday trading on Tuesday, reaching $1.95. 1,019,532 shares of the stock were exchanged, compared to its average volume of 1,853,385. The company has a market capitalization of $745.48 million, a price-to-earnings ratio of -14.88 and a beta of 0.99. Cronos Group has a twelve month low of $1.86 and a twelve month high of $3.14. The business's 50-day moving average price is $2.10 and its 200 day moving average price is $2.24.
Institutional Investors Weigh In On Cronos Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in shares of Cronos Group by 1,094.4% during the second quarter. National Bank of Canada FI now owns 15,169 shares of the company's stock worth $35,000 after buying an additional 13,899 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Cronos Group in the 3rd quarter valued at approximately $37,000. Headlands Technologies LLC increased its holdings in shares of Cronos Group by 12,309.4% in the second quarter. Headlands Technologies LLC now owns 27,797 shares of the company's stock valued at $65,000 after purchasing an additional 27,573 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Cronos Group in the second quarter valued at approximately $87,000. Finally, Cedar Wealth Management LLC raised its stake in shares of Cronos Group by 65.4% during the second quarter. Cedar Wealth Management LLC now owns 37,935 shares of the company's stock worth $88,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 8.71% of the company's stock.
About Cronos Group
(
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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.
Further Reading
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