Shares of Cronos Group Inc. (NASDAQ:CRON – Get Free Report) were down 3.9% on Friday . The company traded as low as $2.23 and last traded at $2.23. Approximately 417,565 shares were traded during trading, a decline of 84% from the average daily volume of 2,603,679 shares. The stock had previously closed at $2.32.
Analyst Ratings Changes
A number of research firms have commented on CRON. CIBC raised their target price on Cronos Group from $3.00 to $3.50 and gave the company an “outperformer” rating in a report on Wednesday, May 15th. Bank of America lifted their price target on shares of Cronos Group from $2.00 to $2.50 and gave the company an “underperform” rating in a research report on Monday, April 8th.
Check Out Our Latest Report on CRON
Cronos Group Stock Down 4.3 %
Cronos Group (NASDAQ:CRON – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Cronos Group had a negative return on equity of 3.06% and a negative net margin of 61.31%. The company had revenue of $25.29 million for the quarter, compared to the consensus estimate of $24.30 million. During the same period last year, the business posted ($0.03) EPS.
Institutional Trading of Cronos Group
Institutional investors have recently added to or reduced their stakes in the stock. Chesapeake Capital Corp IL bought a new position in Cronos Group in the fourth quarter worth about $25,000. Toronto Dominion Bank grew its position in Cronos Group by 204.8% in the first quarter. Toronto Dominion Bank now owns 17,054 shares of the company’s stock worth $45,000 after buying an additional 11,459 shares during the last quarter. Revisor Wealth Management LLC acquired a new stake in shares of Cronos Group during the first quarter worth $51,000. Cedar Wealth Management LLC acquired a new position in shares of Cronos Group in the first quarter worth about $60,000. Finally, Concurrent Investment Advisors LLC purchased a new position in Cronos Group during the 1st quarter worth approximately $79,000. 8.71% of the stock is owned by institutional investors and hedge funds.
About Cronos Group
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.
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