Cronos Group Inc. (NASDAQ:CRON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cronos Group Inc. (NASDAQ:CRONGet Rating) have received an average rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.07.

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein started coverage on shares of Cronos Group in a research report on Tuesday, November 1st. They set a “market perform” rating and a $3.00 price objective on the stock. Barclays reduced their price target on shares of Cronos Group from $5.00 to $3.50 and set an “equal weight” rating on the stock in a research report on Friday, September 30th. Raymond James restated a “buy” rating and issued a $7.00 price target on shares of Cronos Group in a research report on Friday, July 29th. Canaccord Genuity Group upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Finally, Canaccord Genuity Group reduced their price target on shares of Cronos Group from C$5.00 to C$4.75 in a research report on Tuesday, November 8th.

Insider Buying and Selling at Cronos Group

In related news, Director Jason Marc Adler bought 81,000 shares of the stock in a transaction dated Thursday, November 17th. The stock was purchased at an average cost of $2.94 per share, with a total value of $238,140.00. Following the completion of the purchase, the director now owns 372,296 shares of the company’s stock, valued at $1,094,550.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.95% of the company’s stock.

Institutional Trading of Cronos Group

A number of large investors have recently made changes to their positions in CRON. SG Americas Securities LLC purchased a new stake in shares of Cronos Group during the first quarter valued at $51,000. Aigen Investment Management LP boosted its stake in shares of Cronos Group by 347.8% during the first quarter. Aigen Investment Management LP now owns 63,730 shares of the company’s stock valued at $247,000 after purchasing an additional 49,497 shares during the period. CIBC Asset Management Inc lifted its stake in Cronos Group by 3.4% in the first quarter. CIBC Asset Management Inc now owns 177,659 shares of the company’s stock worth $690,000 after acquiring an additional 5,786 shares during the period. Sageworth Trust Co purchased a new stake in Cronos Group in the first quarter worth about $58,000. Finally, Swiss National Bank lifted its stake in Cronos Group by 7.7% in the first quarter. Swiss National Bank now owns 486,600 shares of the company’s stock worth $1,886,000 after acquiring an additional 34,700 shares during the period. 12.08% of the stock is owned by hedge funds and other institutional investors.

Cronos Group Price Performance

Cronos Group stock opened at $3.07 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of -5.12 and a beta of 1.55. Cronos Group has a 1 year low of $2.57 and a 1 year high of $4.91. The firm’s 50 day moving average price is $2.97 and its 200-day moving average price is $3.03.

About Cronos Group

(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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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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