Cronos Group (NASDAQ:CRON) Stock Price Down 3.3%

Cronos Group Inc. (NASDAQ:CRON)’s share price traded down 3.3% during trading on Monday . The stock traded as low as $2.36 and last traded at $2.37. 214,472 shares changed hands during trading, a decline of 91% from the average session volume of 2,294,795 shares. The stock had previously closed at $2.45.

Analysts Set New Price Targets

Separately, CIBC upped their price target on shares of Cronos Group from $3.00 to $3.50 and gave the stock an “outperformer” rating in a research report on Wednesday, May 15th.

Cronos Group Trading Down 2.9 %

The stock’s 50-day moving average is $2.35 and its 200-day moving average is $2.41. The stock has a market cap of $909.83 million, a P/E ratio of -16.33 and a beta of 1.00.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share for the quarter. Cronos Group had a negative net margin of 56.43% and a negative return on equity of 2.06%. The business had revenue of $27.76 million during the quarter, compared to analyst estimates of $25.85 million. During the same period in the previous year, the company posted ($0.02) earnings per share. On average, equities analysts forecast that Cronos Group Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Cronos Group

A number of large investors have recently made changes to their positions in CRON. Chesapeake Capital Corp IL acquired a new position in Cronos Group during the fourth quarter valued at approximately $25,000. National Bank of Canada FI grew its holdings in Cronos Group by 1,094.4% during the second quarter. National Bank of Canada FI now owns 15,169 shares of the company’s stock valued at $35,000 after purchasing an additional 13,899 shares during the last quarter. Toronto Dominion Bank grew its holdings in Cronos Group by 204.8% during the first quarter. Toronto Dominion Bank now owns 17,054 shares of the company’s stock valued at $45,000 after purchasing an additional 11,459 shares during the last quarter. Revisor Wealth Management LLC acquired a new position in Cronos Group during the first quarter valued at approximately $51,000. Finally, Cedar Wealth Management LLC acquired a new position in Cronos Group during the first quarter valued at approximately $60,000. Institutional investors and hedge funds 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.