Cronos Group (NASDAQ:CRON) has been assigned a $10.00 target price by research analysts at Raymond James in a research note issued on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 85.53% from the stock’s current price.
Separately, Zacks Investment Research downgraded shares of Cronos Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $9.40.
NASDAQ:CRON opened at $5.39 on Monday. The company’s 50 day moving average price is $5.74 and its 200-day moving average price is $5.98. Cronos Group has a 52 week low of $4.00 and a 52 week high of $11.77. The company has a current ratio of 5.96, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01.
Cronos Group (NASDAQ:CRON) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.25). Cronos Group had a net margin of 1,729.07% and a negative return on equity of 2.57%. The firm had revenue of $9.88 million for the quarter, compared to analysts’ expectations of $12.29 million. During the same quarter in the previous year, the company earned $0.22 EPS. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. Sell-side analysts expect that Cronos Group will post -0.09 EPS for the current year.
In other Cronos Group news, insider Todd Kevin Abraham purchased 15,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $5.78 per share, for a total transaction of $86,700.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at $86,700. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.93% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC purchased a new position in shares of Cronos Group during the 2nd quarter worth about $6,443,000. Man Group plc acquired a new position in shares of Cronos Group in the 2nd quarter valued at $4,164,000. Advisor Group Holdings Inc. acquired a new position in shares of Cronos Group in the 1st quarter valued at $1,405,000. Virtu Financial LLC acquired a new position in shares of Cronos Group in the 2nd quarter valued at $1,233,000. Finally, Legal & General Group Plc lifted its stake in shares of Cronos Group by 38.3% in the 1st quarter. Legal & General Group Plc now owns 653,889 shares of the company’s stock valued at $3,670,000 after purchasing an additional 180,981 shares during the period. Institutional investors and hedge funds own 12.13% of the company’s stock.
About Cronos Group
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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