Cronos Group Inc (NASDAQ:CRON) has been assigned a consensus broker rating score of 2.25 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a 12 month consensus price objective of $8.89 for the company and are expecting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Cronos Group an industry rank of 154 out of 257 based on the ratings given to related companies.
A number of brokerages have recently issued reports on CRON. Zacks Investment Research upgraded shares of Cronos Group from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, October 16th. Cann began coverage on shares of Cronos Group in a research report on Friday, October 12th. They issued a “sell” rating and a $4.50 price target on the stock. Canaccord Genuity restated an “average” rating and issued a $9.00 price target on shares of Cronos Group in a research report on Thursday, November 15th. Finally, GMP Securities restated a “buy” rating on shares of Cronos Group in a research report on Monday, November 19th.
Several institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in shares of Cronos Group by 8.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 84,066 shares of the company’s stock valued at $934,000 after acquiring an additional 6,621 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Cronos Group during the 3rd quarter valued at $111,000. Stratos Wealth Partners LTD. acquired a new position in shares of Cronos Group during the 3rd quarter valued at $116,000. Oppenheimer & Co. Inc. acquired a new position in shares of Cronos Group during the 3rd quarter valued at $121,000. Finally, Exane Derivatives acquired a new position in shares of Cronos Group during the 3rd quarter valued at $123,000. Institutional investors own 12.42% of the company’s stock.
Shares of NASDAQ CRON traded up $2.50 during midday trading on Friday, reaching $12.95. The stock had a trading volume of 44,317,650 shares, compared to its average volume of 8,245,828. The company has a market capitalization of $1.90 billion and a P/E ratio of 1,295.00. Cronos Group has a twelve month low of $3.31 and a twelve month high of $15.30.
Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Tuesday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The firm had revenue of $3.76 million during the quarter, compared to analyst estimates of $3.56 million. Cronos Group had a negative return on equity of 3.22% and a negative net margin of 45.72%. The business’s quarterly revenue was up 187.0% on a year-over-year basis. On average, sell-side analysts expect that Cronos Group will post -0.04 earnings per share for the current year.
Cronos Group Company Profile
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.
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