Shares of Cronos Group Inc. (NASDAQ:CRON) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $8.43.
Several equities research analysts recently commented on the stock. Raymond James boosted their price objective on shares of Cronos Group from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, November 17th. Jefferies Financial Group cut their price target on Cronos Group from $5.60 to $5.00 and set an “underperform” rating on the stock in a report on Monday, November 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $8.00 price objective on shares of Cronos Group in a research report on Thursday, February 4th. Finally, Zacks Investment Research lowered Cronos Group from a “buy” rating to a “hold” rating in a research report on Monday, January 18th.
In other Cronos Group news, Director Jason Marc Adler sold 100,000 shares of Cronos Group stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $7.33, for a total value of $733,000.00. 7.93% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Jacobi Capital Management LLC raised its holdings in Cronos Group by 27.6% in the 4th quarter. Jacobi Capital Management LLC now owns 4,278 shares of the company’s stock valued at $30,000 after acquiring an additional 925 shares in the last quarter. Banque Cantonale Vaudoise grew its holdings in shares of Cronos Group by 8.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 12,300 shares of the company’s stock worth $85,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Cronos Group by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 19,774 shares of the company’s stock worth $137,000 after purchasing an additional 1,078 shares during the period. Global Retirement Partners LLC lifted its position in Cronos Group by 64.6% during the fourth quarter. Global Retirement Partners LLC now owns 3,568 shares of the company’s stock worth $25,000 after purchasing an additional 1,400 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in Cronos Group by 0.3% in the 4th quarter. Public Sector Pension Investment Board now owns 518,383 shares of the company’s stock valued at $3,597,000 after buying an additional 1,649 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.
CRON traded up $0.12 during trading on Friday, reaching $12.27. The company had a trading volume of 23,371,838 shares, compared to its average volume of 8,927,180. The company has a market cap of $4.42 billion, a P/E ratio of 51.13 and a beta of 2.07. Cronos Group has a 12 month low of $4.00 and a 12 month high of $15.83. The business’s fifty day moving average price is $9.99 and its 200 day moving average price is $7.23.
Cronos Group Company Profile
Cronos Group Inc operates as a cannabinoid company in the United States and internationally. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through ecommerce, retail, and hospitality partner channels. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.
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