Cronos Group (NASDAQ:CRON) Price Target Increased to $2.50 by Analysts at Bank of America

Cronos Group (NASDAQ:CRON) had its price target upped by investment analysts at Bank of America from $2.00 to $2.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price target would indicate a potential downside of 6.72% from the company’s current price.

Cronos Group Trading Down 2.5 %

CRON opened at $2.68 on Monday. The stock has a fifty day moving average price of $2.25 and a 200 day moving average price of $2.07. Cronos Group has a 1 year low of $1.64 and a 1 year high of $2.99. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -14.11 and a beta of 1.17.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $23.92 million during the quarter, compared to the consensus estimate of $25.15 million. Cronos Group had a negative net margin of 84.15% and a negative return on equity of 3.99%. As a group, sell-side analysts forecast that Cronos Group will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Large investors have recently bought and sold shares of the business. Intact Investment Management Inc. raised its holdings in Cronos Group by 54.2% during the third quarter. Intact Investment Management Inc. now owns 1,108,300 shares of the company’s stock valued at $2,211,000 after buying an additional 389,610 shares in the last quarter. JW Asset Management LLC bought a new stake in shares of Cronos Group during the 3rd quarter worth $400,000. AdvisorShares Investments LLC acquired a new position in Cronos Group in the 3rd quarter valued at $280,000. Vontobel Holding Ltd. raised its holdings in Cronos Group by 139.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 214,560 shares of the company’s stock worth $428,000 after acquiring an additional 124,820 shares during the period. Finally, Revisor Wealth Management LLC acquired a new position in Cronos Group during the 3rd quarter worth $47,000. 8.71% of the stock is currently owned by institutional investors.

About Cronos Group

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.