Cronos Group (NASDAQ:CRON) Trading 8% Higher

Shares of Cronos Group Inc. (NASDAQ:CRON) traded up 8% during mid-day trading on Wednesday . The stock traded as high as $2.44 and last traded at $2.43. 2,238,161 shares changed hands during trading, an increase of 27% from the average session volume of 1,757,385 shares. The stock had previously closed at $2.25.

Analyst Ratings Changes

Separately, Roth Capital restated a “buy” rating on shares of Cronos Group in a research note on Thursday, May 18th.

Cronos Group Stock Up 14.7 %

The company has a market capitalization of $983.21 million, a price-to-earnings ratio of -6.26 and a beta of 1.41. The company’s 50 day simple moving average is $1.89 and its two-hundred day simple moving average is $1.88.

Cronos Group (NASDAQ:CRON) last announced its earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. Cronos Group had a negative net margin of 172.83% and a negative return on equity of 8.74%. The company had revenue of $19.02 million during the quarter, compared to the consensus estimate of $22.70 million. Analysts anticipate that Cronos Group Inc. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently made changes to their positions in CRON. Marathon Trading Investment Management LLC purchased a new position in shares of Cronos Group during the first quarter worth $196,000. ETF Managers Group LLC purchased a new position in shares of Cronos Group during the first quarter worth $10,724,000. AXS Investments LLC purchased a new position in shares of Cronos Group during the first quarter worth $869,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cronos Group by 25.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company’s stock worth $1,926,000 after purchasing an additional 200,839 shares during the last quarter. Finally, Formidable Asset Management LLC raised its holdings in shares of Cronos Group by 17.4% during the first quarter. Formidable Asset Management LLC now owns 111,234 shares of the company’s stock worth $216,000 after purchasing an additional 16,467 shares during the last quarter. 8.63% of the stock is currently owned by institutional investors and hedge funds.

About Cronos Group

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 brand 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.