Cronos Group (CRON) Shares Gap Up to $7.42

Shares of Cronos Group Inc (NASDAQ:CRON) gapped up prior to trading on Thursday . The stock had previously closed at $7.56, but opened at $7.42. Cronos Group shares last traded at $7.44, with a volume of 135412 shares changing hands.

A number of analysts have recently issued reports on CRON shares. Zacks Investment Research upgraded shares of Cronos Group from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, October 16th. Canaccord Genuity upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Cann started coverage on shares of Cronos Group in a report on Friday, October 12th. They set a “sell” rating and a $4.50 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.75.

The firm has a market capitalization of $1.31 billion and a price-to-earnings ratio of 806.00. The company has a current ratio of 52.98, a quick ratio of 44.71 and a debt-to-equity ratio of 0.02.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in Cronos Group during the third quarter worth $111,000. Stratos Wealth Partners LTD. acquired a new position in Cronos Group during the third quarter worth $116,000. Oppenheimer & Co. Inc. acquired a new position in Cronos Group during the third quarter worth $121,000. Exane Derivatives acquired a new position in Cronos Group during the third quarter worth $123,000. Finally, IFP Advisors Inc increased its holdings in Cronos Group by 400.7% during the third quarter. IFP Advisors Inc now owns 14,260 shares of the company’s stock worth $159,000 after buying an additional 11,412 shares during the last quarter. Institutional investors and hedge funds own 9.74% of the company’s stock.

About Cronos Group (NASDAQ:CRON)

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations “MMPR”. The firm typically invests in companies based in Canada.

Recommended Story: How to Profit and Limit Losses With Stop Orders

Receive News & Ratings for Cronos Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cronos Group and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply