Jason Marc Adler Purchases 37,500 Shares of Cronos Group Inc. (NASDAQ:CRON) Stock

Posted by Defense World Staff on Jun 3rd, 2023

Cronos Group Inc. (NASDAQ:CRON – Get Rating) Director Jason Marc Adler purchased 37,500 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average cost of $1.74 per share, for a total transaction of $65,250.00. Following the purchase, the director now directly owns 1,402,304 shares of the company’s stock, valued at $2,440,008.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Jason Marc Adler also recently made the following trade(s):

On Thursday, May 25th, Jason Marc Adler bought 100,000 shares of Cronos Group stock. The stock was acquired at an average cost of $1.80 per share, for a total transaction of $180,000.00.
On Friday, May 19th, Jason Marc Adler purchased 100,000 shares of Cronos Group stock. The shares were acquired at an average cost of $1.89 per share, with a total value of $189,000.00.

Cronos Group Stock Performance

CRON opened at $1.75 on Friday. Cronos Group Inc. has a 12 month low of $1.67 and a 12 month high of $3.62. The company has a fifty day simple moving average of $1.86 and a 200 day simple moving average of $2.29.

Cronos Group (NASDAQ:CRON – Get Rating) last announced its quarterly 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). The business had revenue of $22.89 million during the quarter, compared to the consensus estimate of $21.35 million. Cronos Group had a negative return on equity of 9.65% and a negative net margin of 178.43%. On average, analysts forecast that Cronos Group Inc. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRON has been the subject of a number of analyst reports. Raymond James lowered their target price on shares of Cronos Group from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. Barclays decreased their price objective on Cronos Group from $3.50 to $3.00 in a research note on Monday, May 15th. Finally, Roth Capital reissued a “buy” rating on shares of Cronos Group in a research note on Thursday, May 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.44.

Hedge Funds Weigh In On Cronos Group

Institutional investors and hedge funds have recently modified their holdings of the business. Toroso Investments LLC lifted its stake in Cronos Group by 40.8% in the first quarter. Toroso Investments LLC now owns 114,960 shares of the company’s stock valued at $223,000 after buying an additional 33,335 shares in the last quarter. Polar Asset Management Partners Inc. lifted its position in Cronos Group by 33.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 300,000 shares of the company’s stock valued at $582,000 after acquiring an additional 75,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Cronos Group in the 1st quarter worth $183,000. Marathon Trading Investment Management LLC bought a new position in Cronos Group during the 1st quarter worth about $196,000. Finally, Bank of America Corp DE raised its stake in shares of Cronos Group by 35.1% in the 1st quarter. Bank of America Corp DE now owns 106,650 shares of the company’s stock valued at $207,000 after purchasing an additional 27,713 shares during the period. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Cronos Group Company Profile

(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.