Cronos Group Inc. (NASDAQ:CRON – Get Rating) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $4.07.
CRON has been the topic of a number of recent research reports. Canaccord Genuity Group upgraded shares of Cronos Group from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Barclays lowered their target price on shares of Cronos Group from $5.00 to $3.50 and set an “equal weight” rating for the company in a research note on Friday, September 30th. Canaccord Genuity Group lowered their target price on shares of Cronos Group from C$5.00 to C$4.75 in a research note on Tuesday, November 8th. Raymond James reaffirmed a “buy” rating and issued a $7.00 price target on shares of Cronos Group in a research note on Friday, July 29th. Finally, Sanford C. Bernstein began coverage on shares of Cronos Group in a research note on Tuesday, November 1st. They issued a “market perform” rating and a $3.00 price target for the company.
Cronos Group Stock Performance
Shares of NASDAQ:CRON opened at $3.07 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of -5.12 and a beta of 1.55. The firm’s fifty day moving average is $2.97 and its 200-day moving average is $3.03. Cronos Group has a 52 week low of $2.57 and a 52 week high of $4.91.
Insider Transactions at Cronos Group
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRON. Asset Management Corp IL ADV purchased a new position in Cronos Group during the third quarter worth about $29,000. Ferguson Shapiro LLC purchased a new position in Cronos Group in the second quarter valued at about $30,000. Quantbot Technologies LP purchased a new position in Cronos Group in the second quarter valued at about $43,000. Cetera Advisor Networks LLC purchased a new position in Cronos Group in the second quarter valued at about $45,000. Finally, Creative Planning boosted its stake in 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 during the last quarter. 12.08% of the stock is currently owned by hedge funds and other institutional investors.
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 and Happy Dance brands 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.
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