Stocks of Cronos Group Inc. (NASDAQ:CRON) traded higher last session on Wall Street, up 5.56% to $1.90.
According to the data, Cronos Group Inc. (NASDAQ:CRON) has 11 analysts covering its stock. 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 $1.57, we find $2.51. Given the previous closing price of $1.80, this indicates a potential upside of 39.44 percent. CRON stock price is now 3.13% away from the 50-day moving average and -13.91% away from the 200-day moving average. The market capitalization of the company currently stands at $970.98M.
A total of 6 analysts have issued a hold rating and 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.53 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 $2.66 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 $2.61 million. A total of 46.48% 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 $10,503,000. BARCLAYS PLC invested $72,000 in shares of CRON during the first quarter. In the first quarter, GTS SECURITIES LLC acquired a new stake in Cronos Group Inc. valued at approximately $55,000. FLOW TRADERS U.S. LLC acquired a new stake in CRON for approximately $22,000. CRESSET ASSET MANAGEMENT, LLC purchased a new stake in CRON valued at around $20,000 in the second quarter. In total, there are 219 active investors with 11.30% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $1.8000 for Cronos Group Inc. (NASDAQ: CRON). During the past 12 months, Cronos Group Inc. has had a low of $1.64 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 33.10, and a quick ratio of 31.50. The fifty day moving average price for CRON is $1.8454 and a two-hundred day moving average price translates $2.2011 for the stock.
The latest earnings results from Cronos Group Inc. (NASDAQ: CRON) was released for Jun, 2023. According to the Drug Manufacturers – Specialty & Generic Company, earnings per share came in at -$0.01, beating analysts’ expectations of -$0.03 by 0.02. This compares to -$0.01 EPS in the same period last year. The company reported revenue of $19.02 million for the quarter, compared to $21.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.95 percent. For the current quarter, analysts expect CRON to generate $19.78M 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.
