Cronos Group (NASDAQ:CRON) Stock Price Down 5.2%
Cronos Group Inc (NASDAQ:CRON)’s share price was down 5.2% on Monday . The stock traded as low as $11.17 and last traded at $11.31, approximately 5,044,190 shares changed hands during mid-day trading. A decline of 44% from the average daily volume of 8,938,281 shares. The stock had previously closed at $11.93.
A number of research firms have issued reports on CRON. Canaccord Genuity raised shares of Cronos Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Friday, August 9th. BMO Capital Markets raised shares of Cronos Group from an “underperform” rating to a “market perform” rating in a report on Thursday, September 5th. Piper Jaffray Companies assumed coverage on shares of Cronos Group in a research report on Monday, August 12th. They issued an “overweight” rating and a $18.00 price target for the company. Consumer Edge started coverage on Cronos Group in a research note on Friday, June 28th. They issued an “equal weight” rating for the company. Finally, Bank of America increased their price target on Cronos Group from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Cronos Group has a consensus rating of “Hold” and a consensus price target of $19.62.
The firm’s fifty day simple moving average is $12.61 and its 200 day simple moving average is $15.99. The stock has a market capitalization of $3.94 billion, a P/E ratio of -144.25 and a beta of 3.55.
A number of institutional investors and hedge funds have recently made changes to their positions in CRON. Captrust Financial Advisors boosted its holdings in shares of Cronos Group by 7,925.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,605 shares of the company’s stock valued at $26,000 after purchasing an additional 1,585 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in Cronos Group in the second quarter valued at about $29,000. Focused Wealth Management Inc boosted its holdings in Cronos Group by 48.5% in the first quarter. Focused Wealth Management Inc now owns 1,849 shares of the company’s stock worth $34,000 after acquiring an additional 604 shares in the last quarter. US Bancorp DE boosted its holdings in Cronos Group by 90.9% in the second quarter. US Bancorp DE now owns 2,100 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in Cronos Group during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 11.63% of the company’s stock.
Cronos Group Company Profile (NASDAQ:CRON)
Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations MMPR. The firm typically invests in companies based in Canada.
Recommended Story: Dogs of the Dow
Receive News & Ratings for Cronos Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cronos Group and related companies with MarketBeat.com's FREE daily email newsletter.