AXS Investments LLC Reduces Position in Cronos Group Inc. (NASDAQ:CRON)

AXS Investments LLC trimmed its position in Cronos Group Inc. (NASDAQ:CRON) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,960 shares of the company’s stock after selling 27,790 shares during the period. AXS Investments LLC owned 0.11% of Cronos Group worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRON. Psagot Value Holdings Ltd. Israel purchased a new position in shares of Cronos Group in the first quarter worth about $30,000. Deutsche Bank AG lifted its position in Cronos Group by 21,218.6% during the fourth quarter. Deutsche Bank AG now owns 14,923 shares of the company’s stock valued at $38,000 after purchasing an additional 14,853 shares during the period. Cetera Investment Advisers purchased a new stake in Cronos Group in the fourth quarter valued at $38,000. Quantbot Technologies LP acquired a new stake in Cronos Group during the 2nd quarter worth about $43,000. Finally, Cetera Advisor Networks LLC purchased a new position in shares of Cronos Group during the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 8.63% of the company’s stock.

Cronos Group Price Performance

CRON stock traded up $0.09 during midday trading on Friday, hitting $1.96. 2,506,184 shares of the stock traded hands, compared to its average volume of 1,830,128. The stock’s fifty day simple moving average is $1.99 and its 200-day simple moving average is $1.89. The firm has a market cap of $746.98 million, a P/E ratio of -7.00 and a beta of 1.31. Cronos Group Inc. has a 1-year low of $1.64 and a 1-year high of $3.62.

Analyst Ratings Changes

Separately, CIBC upped their target price on Cronos Group from $2.75 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th.

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.