Cronos Group Inc. (NASDAQ:CRON – Get Free Report)’s share price traded down 4.6% on Thursday . The company traded as low as $2.49 and last traded at $2.49. 1,333,744 shares were traded during trading, a decline of 53% from the average session volume of 2,848,466 shares. The stock had previously closed at $2.61.
Analyst Ratings Changes
Separately, Bank of America boosted their target price on shares of Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research report on Monday, April 8th.
Get Our Latest Analysis on CRON
Cronos Group Trading Down 1.2 %
Cronos Group (NASDAQ:CRON – Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. The company had revenue of $23.92 million for 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%. Sell-side analysts forecast that Cronos Group Inc. will post -0.01 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Intact Investment Management Inc. raised its position in shares of Cronos Group by 54.2% during the third quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company’s stock valued at $2,211,000 after buying an additional 389,610 shares during the last quarter. JW Asset Management LLC bought a new stake in Cronos Group in the third quarter valued at about $400,000. AdvisorShares Investments LLC bought a new stake in Cronos Group in the third quarter valued at about $280,000. Vontobel Holding Ltd. increased its stake in Cronos Group by 139.1% in the third quarter. Vontobel Holding Ltd. now owns 214,560 shares of the company’s stock valued at $428,000 after acquiring an additional 124,820 shares during the period. Finally, Revisor Wealth Management LLC bought a new stake in Cronos Group in the third quarter valued at about $47,000. Institutional investors and hedge funds own 8.71% of the company’s stock.
About Cronos Group
Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.
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