Cronos Group Inc. (NASDAQ:CRON) Short Interest Down 13.8% in March

Cronos Group Inc. (NASDAQ:CRON) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 5,550,000 shares, a decrease of 13.8% from the March 15th total of 6,440,000 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average trading volume of 2,860,000 shares, the short-interest ratio is presently 1.9 days.

Cronos Group Price Performance

NASDAQ CRON remained flat at $2.44 during trading hours on Tuesday. 2,245,965 shares of the company traded hands, compared to its average volume of 2,871,531. Cronos Group has a one year low of $1.64 and a one year high of $2.99. The company has a market cap of $932.10 million, a P/E ratio of -12.84 and a beta of 1.17. The company’s 50-day moving average is $2.31 and its 200-day moving average is $2.10.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. Cronos Group had a negative net margin of 84.15% and a negative return on equity of 3.99%. The business had revenue of $23.92 million for the quarter, compared to analysts’ expectations of $25.15 million. On average, equities research analysts predict that Cronos Group will post -0.01 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America upped their price objective on shares of Cronos Group from $2.00 to $2.50 and gave the company an “underperform” rating in a research note on Monday, April 8th.

Institutional Trading of Cronos Group

Hedge funds have recently made changes to their positions in the company. Chesapeake Capital Corp IL purchased a new stake in shares of Cronos Group in the 4th quarter valued at approximately $25,000. Cetera Investment Advisers purchased a new stake in shares of Cronos Group in the 4th quarter valued at approximately $38,000. Deutsche Bank AG lifted its holdings in shares of Cronos Group by 21,218.6% in the 4th quarter. Deutsche Bank AG now owns 14,923 shares of the company’s stock worth $38,000 after acquiring an additional 14,853 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Cronos Group by 57.0% in the 4th quarter. International Assets Investment Management LLC now owns 19,015 shares of the company’s stock worth $40,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Cronos Group in the 2nd quarter worth approximately $43,000. 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.