Cronos Group (NASDAQ:CRON) Stock Price Down 3.3%

Cronos Group Inc. (NASDAQ:CRON)’s stock price was down 3.3% during trading on Monday . The company traded as low as $2.36 and last traded at $2.37. Approximately 214,472 shares traded hands during trading, a decline of 91% from the average daily volume of 2,294,795 shares. The stock had previously closed at $2.45.

Wall Street Analyst Weigh In

Separately, CIBC raised their price target on Cronos Group from $3.00 to $3.50 and gave the company an “outperformer” rating in a report on Wednesday, May 15th.

Cronos Group Stock Down 2.9 %

The company has a fifty day moving average price of $2.35 and a 200-day moving average price of $2.41. The stock has a market capitalization of $909.83 million, a P/E ratio of -16.33 and a beta of 1.00.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $27.76 million during the quarter, compared to the consensus estimate of $25.85 million. Cronos Group had a negative return on equity of 2.06% and a negative net margin of 56.43%. During the same period last year, the firm posted ($0.02) earnings per share. As a group, research analysts expect that Cronos Group Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC grew its position in Cronos Group by 252.4% in the fourth quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company’s stock worth $1,031,000 after acquiring an additional 353,404 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cronos Group by 47.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company’s stock valued at $2,617,000 after buying an additional 321,254 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Cronos Group during the first quarter valued at approximately $79,000. Virtu Financial LLC boosted its position in shares of Cronos Group by 34.9% during the first quarter. Virtu Financial LLC now owns 105,985 shares of the company’s stock valued at $277,000 after buying an additional 27,446 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in shares of Cronos Group by 6.6% during the fourth quarter. Vontobel Holding Ltd. now owns 228,780 shares of the company’s stock valued at $478,000 after buying an additional 14,220 shares during the period. Hedge funds and other institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

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.