In yesterday’s Wall Street session, Cronos Group Inc. (NASDAQ:CRON) shares traded at $1.88, down -4.08% from the previous session.
As of this writing, 12 analysts cover Cronos Group Inc. (NASDAQ:CRON). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $3.77 and a low of $1.55, we find $2.51. Given the previous closing price of $1.96, this indicates a potential upside of 28.06 percent. CRON stock price is now 3.26% away from the 50-day moving average and -20.63% away from the 200-day moving average. The market capitalization of the company currently stands at $924.73M.
There are 6 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.56 as their price target over the next twelve months.
With the price target of $3, Bernstein recently initiated with Mkt Perform rating for Cronos Group Inc. (NASDAQ: CRON).
In other news, ADLER JASON MARC, Director bought 37,500 shares of the company’s stock on May 30. The stock was bought for $65,074 at an average price of $1.74. Upon completion of the transaction, the Director now directly owns 1,402,304 shares in the company, valued at $2.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 25, Director ADLER JASON MARC bought 100,000 shares of the business’s stock. A total of $179,650 was incurred on buying the stock at an average price of $1.80. This leaves the insider owning 1,376,054 shares of the company worth $2.59 million. A total of 46.85% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CRON stock. A new stake in Cronos Group Inc. shares was purchased by ETF MANAGERS GROUP, LLC during the first quarter worth $10,393,000. ERGOTELES LLC invested $953,000 in shares of CRON during the first quarter. In the first quarter, AXS INVESTMENTS LLC acquired a new stake in Cronos Group Inc. valued at approximately $842,000. TIMELO INVESTMENT MANAGEMENT INC. acquired a new stake in CRON for approximately $362,000. MARATHON TRADING INVESTMENT MANAGEMENT LLC purchased a new stake in CRON valued at around $190,000 in the second quarter. In total, there are 231 active investors with 11.30% ownership of the company’s stock.
Thursday morning saw Cronos Group Inc. (NASDAQ: CRON) opened at $1.9400. During the past 12 months, Cronos Group Inc. has had a low of $1.66 and a high of $3.62. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 31.40, and a quick ratio of 29.90. The fifty day moving average price for CRON is $1.8222 and a two-hundred day moving average price translates $2.3628 for the stock.
The latest earnings results from Cronos Group Inc. (NASDAQ: CRON) was released for Mar, 2023. According to the Drug Manufacturers – Specialty & Generic Company, earnings per share came in at -$0.05, inline with analysts’ expectations of -$0.05. This compares to -$0.09 EPS in the same period last year. The company reported revenue of $20.14 million for the quarter, compared to $25.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -19.53 percent. For the current quarter, analysts expect CRON to generate $22.74M in revenue.
Cronos Group Inc.(CRON) 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. It sells cannabis and cannabis products, including dried cannabis, pre-rolls, edibles, concentrates, and cannabis extracts through wholesale and direct-to-client channels under its wellness platform, PEACE NATURALS; and operates under adult-use brands, Spinach. Cronos Group Inc. was founded in 2012 and is based in Toronto, Canada.
