Brokerages Set Cronos Group Inc. (NASDAQ:CRON) PT at $3.44

Posted by on May 23rd, 2023

Cronos Group Inc. (NASDAQ:CRON – Get Rating) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $3.44.

Several equities analysts have recently issued reports on CRON shares. Roth Capital reissued a “buy” rating on shares of Cronos Group in a research note on Thursday, May 18th. Raymond James reduced their price target on Cronos Group from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Finally, Barclays reduced their price target on Cronos Group from $3.50 to $3.00 in a research note on Monday, May 15th.

Cronos Group Stock Performance

CRON opened at $1.98 on Friday. Cronos Group has a 52-week low of $1.67 and a 52-week high of $3.62. The stock has a market capitalization of $754.02 million, a PE ratio of -4.83 and a beta of 1.47. The stock’s 50 day moving average price is $1.88 and its 200-day moving average price is $2.35.

Cronos Group (NASDAQ:CRON – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.09). Cronos Group had a negative net margin of 178.43% and a negative return on equity of 9.65%. The business had revenue of $22.89 million for the quarter, compared to analysts’ expectations of $21.35 million. Research analysts forecast that Cronos Group will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its holdings in Cronos Group by 88.8% in the third quarter. Quantbot Technologies LP now owns 29,263 shares of the company’s stock worth $82,000 after acquiring an additional 13,763 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cronos Group by 47.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,942 shares of the company’s stock valued at $137,000 after purchasing an additional 17,449 shares in the last quarter. Cambria Investment Management L.P. lifted its holdings in shares of Cronos Group by 46.7% during the third quarter. Cambria Investment Management L.P. now owns 190,836 shares of the company’s stock valued at $538,000 after purchasing an additional 60,716 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Cronos Group by 9.0% during the third quarter. Penserra Capital Management LLC now owns 483,260 shares of the company’s stock valued at $1,362,000 after purchasing an additional 40,000 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Cronos Group by 87.8% during the fourth quarter. UBS Group AG now owns 53,383 shares of the company’s stock valued at $136,000 after purchasing an additional 24,950 shares in the last quarter. 11.94% of the stock is owned by institutional investors.

About Cronos Group

(Get Rating)

Cronos Group, Inc engages in the production and distribution of cannabis. I It operates through the United States and Rest of World segments. The company was founded on August 21, 2012 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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