Cronos Group (NASDAQ:CRON) Trading Up 6.1% – Time to Buy?

Cronos Group Inc. (NASDAQ:CRON) shares rose 6.1% during mid-day trading on Tuesday . The stock traded as high as $2.26 and last traded at $2.26. Approximately 1,015,129 shares traded hands during trading, a decline of 48% from the average daily volume of 1,967,656 shares. The stock had previously closed at $2.13.

Cronos Group Stock Up 7.5 %

The business has a fifty day moving average of $2.22 and a 200 day moving average of $2.39. The company has a market cap of $875.47 million, a P/E ratio of -15.20 and a beta of 0.97.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.02) EPS for the quarter. The company 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 quarter last year, the company posted ($0.02) earnings per share. On average, sell-side analysts anticipate that Cronos Group Inc. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC grew its position in shares of Cronos Group by 39.4% in the 1st quarter. SeaCrest Wealth Management LLC now owns 67,225 shares of the company’s stock worth $175,000 after buying an additional 19,000 shares during the period. Madrona Financial Services LLC purchased a new stake in Cronos Group in the first quarter worth about $130,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 321,254 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Cronos Group by 50.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 304,063 shares of the company’s stock worth $794,000 after purchasing an additional 101,903 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Cronos Group in the 1st quarter worth approximately $79,000. 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.