Cronos Group Inc. (NASDAQ:CRON) Director Jason Marc Adler Purchases 81,000 Shares

Cronos Group Inc. (NASDAQ:CRONGet Rating) Director Jason Marc Adler acquired 81,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was bought at an average price of $2.94 per share, for a total transaction of $238,140.00. Following the completion of the acquisition, the director now owns 372,296 shares of the company’s stock, valued at $1,094,550.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cronos Group Stock Down 0.6 %

CRON opened at $3.10 on Tuesday. Cronos Group Inc. has a twelve month low of $2.57 and a twelve month high of $4.92. The company has a 50-day simple moving average of $2.97 and a 200 day simple moving average of $3.03. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.17 and a beta of 1.55.

Wall Street Analysts Forecast Growth

CRON has been the topic of several research reports. Canaccord Genuity Group upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Canaccord Genuity Group reduced their target price on shares of Cronos Group from C$5.00 to C$4.75 in a research report on Tuesday, November 8th. Barclays reduced their target price on shares of Cronos Group from $5.00 to $3.50 and set an “equal weight” rating for the company in a research report on Friday, September 30th. Sanford C. Bernstein started coverage on shares of Cronos Group in a research report on Tuesday, November 1st. They issued a “market perform” rating and a $3.00 target price for the company. Finally, Raymond James reissued a “buy” rating and issued a $7.00 target price on shares of Cronos Group in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.09.

Institutional Investors Weigh In On Cronos Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Cronos Group by 2.7% during the third quarter. Vanguard Group Inc. now owns 6,459,663 shares of the company’s stock worth $18,215,000 after acquiring an additional 169,755 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Cronos Group by 24.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,257,200 shares of the company’s stock worth $4,876,000 after acquiring an additional 246,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cronos Group by 39.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,104,432 shares of the company’s stock worth $3,114,000 after acquiring an additional 313,718 shares in the last quarter. Merlin Capital LLC raised its stake in Cronos Group by 6.3% during the second quarter. Merlin Capital LLC now owns 944,385 shares of the company’s stock worth $2,663,000 after acquiring an additional 56,062 shares in the last quarter. Finally, NewGen Asset Management Ltd acquired a new position in Cronos Group during the third quarter worth about $2,115,000. Institutional investors own 12.08% of the company’s stock.

Cronos Group Company Profile

(Get Rating)

Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. 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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