Cronos Group (NASDAQ:CRON) Stock Price Down 3.9%

Cronos Group Inc. (NASDAQ:CRON) fell 3.9% during mid-day trading on Friday . The stock traded as low as $2.23 and last traded at $2.23. 417,565 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,603,679 shares. The stock had previously closed at $2.32.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. CIBC raised their price target on shares of Cronos Group from $3.00 to $3.50 and gave the company an “outperformer” rating in a research report on Wednesday, May 15th. Bank of America boosted their price target on Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research note on Monday, April 8th.

Cronos Group Price Performance

The business’s 50 day moving average price is $2.56 and its 200 day moving average price is $2.33. The stock has a market capitalization of $848.66 million, a P/E ratio of -15.47 and a beta of 1.00.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Cronos Group had a negative net margin of 61.31% and a negative return on equity of 3.06%. The business had revenue of $25.29 million during the quarter, compared to the consensus estimate of $24.30 million. During the same quarter in the previous year, the firm posted ($0.03) EPS.

Institutional Trading of Cronos Group

Several institutional investors have recently made changes to their positions in CRON. Tidal Investments LLC purchased a new position in shares of Cronos Group during the first quarter valued at about $17,217,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cronos Group by 47.1% during the 1st 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 in the last quarter. AdvisorShares Investments LLC increased its stake in Cronos Group by 252.4% in the 4th 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 during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Cronos Group by 50.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 304,063 shares of the company’s stock worth $794,000 after acquiring an additional 101,903 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its position in shares of Cronos Group by 12.7% during the 4th quarter. Formidable Asset Management LLC now owns 251,841 shares of the company’s stock valued at $526,000 after acquiring an additional 28,340 shares during the last quarter. 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.