Cronos Group (NASDAQ:CRON) Hits New 52-Week High at $2.68

Cronos Group Inc. (NASDAQ:CRON) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $2.68 and last traded at $2.68, with a volume of 297279 shares trading hands. The stock had previously closed at $2.61.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their target price on shares of Cronos Group from $1.78 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, December 28th.

Cronos Group Stock Up 2.7 %

The stock’s 50-day moving average is $2.12 and its 200-day moving average is $2.05. The firm has a market cap of $1.02 billion, a P/E ratio of -14.11 and a beta of 1.13.

Cronos Group (NASDAQ:CRON) last announced 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 company had revenue of $23.92 million for the quarter, compared to the consensus estimate of $25.15 million. As a group, analysts expect that Cronos Group Inc. will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new stake in shares of Cronos Group in the 4th quarter valued at $4,611,000. Kerrisdale Advisers LLC acquired a new stake in shares of Cronos Group in the 3rd quarter valued at $1,448,000. Intact Investment Management Inc. boosted its stake in shares of Cronos Group by 54.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company’s stock valued at $2,211,000 after purchasing an additional 389,610 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Cronos Group by 252.4% in the 4th quarter. AdvisorShares Investments LLC now owns 493,404 shares of the company’s stock valued at $1,031,000 after purchasing an additional 353,404 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cronos Group by 28.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,422,451 shares of the company’s stock valued at $3,613,000 after purchasing an additional 318,019 shares in the last quarter. Institutional investors own 8.71% of the company’s stock.

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 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.