Cronos Group Inc. (NASDAQ:CRON) Director Sells $733,000.00 in Stock

Cronos Group Inc. (NASDAQ:CRON) Director Jason Marc Adler sold 100,000 shares of Cronos Group stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $7.33, for a total transaction of $733,000.00.

Jason Marc Adler also recently made the following trade(s):

  • On Monday, November 9th, Jason Marc Adler sold 769,339 shares of Cronos Group stock. The shares were sold at an average price of $7.73, for a total transaction of $5,946,990.47.
  • On Friday, November 6th, Jason Marc Adler sold 100,000 shares of Cronos Group stock. The shares were sold at an average price of $7.60, for a total transaction of $760,000.00.

Shares of Cronos Group stock opened at $7.22 on Friday. The stock has a market capitalization of $2.57 billion, a PE ratio of 30.08 and a beta of 1.65. Cronos Group Inc. has a 52-week low of $4.00 and a 52-week high of $9.00. The company has a 50-day simple moving average of $6.04 and a two-hundred day simple moving average of $6.00.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.25. The business had revenue of $11.36 million during the quarter, compared to analysts’ expectations of $14.80 million. Cronos Group had a net margin of 266.31% and a negative return on equity of 1.61%. The business’s revenue for the quarter was up 96.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. On average, research analysts forecast that Cronos Group Inc. will post -0.08 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 11th. Raymond James lifted their price target on shares of Cronos Group from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, November 17th. Jefferies Financial Group lowered their price target on shares of Cronos Group from $5.60 to $5.00 and set an “underperform” rating for the company in a research report on Monday, November 16th. Finally, Zacks Investment Research cut shares of Cronos Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 10th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.89.

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors bought a new stake in Cronos Group during the second quarter valued at approximately $39,000. Fifth Third Bancorp grew its position in Cronos Group by 400.0% during the third quarter. Fifth Third Bancorp now owns 8,125 shares of the company’s stock valued at $41,000 after buying an additional 6,500 shares during the period. Banque Cantonale Vaudoise bought a new stake in Cronos Group during the third quarter valued at approximately $57,000. AE Wealth Management LLC grew its position in Cronos Group by 23.1% during the second quarter. AE Wealth Management LLC now owns 13,500 shares of the company’s stock valued at $81,000 after buying an additional 2,530 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. bought a new stake in Cronos Group during the second quarter valued at approximately $102,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company in the United States and internationally. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through ecommerce, retail, and hospitality partner channels. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.

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