Raymond James Financial Services Advisors Inc. Sells 15,753 Shares of Cronos Group Inc. (NASDAQ:CRON)

Raymond James Financial Services Advisors Inc. decreased its position in Cronos Group Inc. (NASDAQ:CRON) by 32.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,197 shares of the company’s stock after selling 15,753 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cronos Group were worth $67,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Revisor Wealth Management LLC purchased a new stake in Cronos Group during the third quarter valued at $47,000. AdvisorShares Investments LLC bought a new stake in shares of Cronos Group during the 3rd quarter valued at about $280,000. JW Asset Management LLC purchased a new stake in shares of Cronos Group during the 3rd quarter valued at about $400,000. Formidable Asset Management LLC lifted its stake in shares of Cronos Group by 97.6% in the 3rd quarter. Formidable Asset Management LLC now owns 223,501 shares of the company’s stock worth $447,000 after purchasing an additional 110,388 shares during the period. Finally, Cambria Investment Management L.P. boosted its holdings in shares of Cronos Group by 32.2% in the third quarter. Cambria Investment Management L.P. now owns 232,330 shares of the company’s stock worth $465,000 after buying an additional 56,560 shares during the last quarter. 8.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price target on shares of Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research note on Monday, April 8th.

Cronos Group Stock Up 3.6 %

NASDAQ CRON opened at $2.59 on Friday. Cronos Group Inc. has a 52 week low of $1.64 and a 52 week high of $2.99. The company has a market capitalization of $989.41 million, a P/E ratio of -13.63 and a beta of 1.17. The stock’s 50-day moving average price is $2.36 and its 200-day moving average price is $2.12.

Cronos Group (NASDAQ:CRON) last released its earnings results on Thursday, February 29th. The company reported ($0.05) earnings per share (EPS) for the quarter. Cronos Group had a negative return on equity of 3.99% and a negative net margin of 84.15%. The firm had revenue of $23.92 million during the quarter, compared to analysts’ expectations of $25.15 million. Research analysts anticipate that Cronos Group Inc. will post -0.01 EPS for the current year.

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.