Cronos Group (NASDAQ:CRON) Trading Down 3.3%

Cronos Group Inc. (NASDAQ:CRON) shares fell 3.3% during trading on Friday . The company traded as low as $2.66 and last traded at $2.66. 743,260 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,785,273 shares. The stock had previously closed at $2.75.

Analysts Set New Price Targets

Separately, Bank of America upped their price objective on Cronos Group from $1.78 to $2.00 and gave the company an “underperform” rating in a report on Thursday, December 28th.

Cronos Group Price Performance

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -14.11 and a beta of 1.17. The firm has a 50 day moving average price of $2.25 and a 200-day moving average price of $2.07.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $23.92 million during the quarter, compared to analyst estimates of $25.15 million. Cronos Group had a negative net margin of 84.15% and a negative return on equity of 3.99%. Equities research analysts predict that Cronos Group Inc. will post -0.01 earnings per share for the current year.

Institutional Trading of Cronos Group

Several hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in shares of Cronos Group by 23.1% in the second quarter. Creative Planning now owns 16,549 shares of the company’s stock valued at $47,000 after acquiring an additional 3,100 shares in the last quarter. Credit Suisse AG increased its holdings in Cronos Group by 3.0% in the third quarter. Credit Suisse AG now owns 173,719 shares of the company’s stock valued at $490,000 after buying an additional 5,052 shares during the last quarter. UBS Group AG increased its holdings in Cronos Group by 22.0% in the third quarter. UBS Group AG now owns 28,433 shares of the company’s stock valued at $80,000 after buying an additional 5,123 shares during the last quarter. Royal Bank of Canada increased its holdings in Cronos Group by 8.9% in the second quarter. Royal Bank of Canada now owns 75,411 shares of the company’s stock valued at $149,000 after buying an additional 6,187 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Cronos Group by 57.0% in the fourth quarter. International Assets Investment Management LLC now owns 19,015 shares of the company’s stock valued at $40,000 after buying an additional 6,900 shares during the last quarter. 8.71% of the stock is currently owned by institutional investors and hedge funds.

Cronos Group Company Profile

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.