Raymond James set a $10.00 price target on Cronos Group (NASDAQ:CRON) in a report published on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Separately, Zacks Investment Research cut shares of Cronos Group from a hold rating to a sell rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $9.40.

Shares of NASDAQ:CRON opened at $5.40 on Monday. Cronos Group has a twelve month low of $4.00 and a twelve month high of $11.57. The company’s 50 day moving average is $5.71 and its 200 day moving average is $5.98. The company has a current ratio of 5.96, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.89 billion, a PE ratio of 12.00 and a beta of 1.68.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.25). The firm had revenue of $9.88 million for the quarter, compared to analyst estimates of $12.29 million. Cronos Group had a negative return on equity of 2.57% and a net margin of 1,729.07%. Cronos Group’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. Equities research analysts predict that Cronos Group will post -0.09 earnings per share for the current fiscal year.

In related news, insider Todd Kevin Abraham purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $5.78 per share, with a total value of $86,700.00. Following the purchase, the insider now owns 15,000 shares of the company’s stock, valued at $86,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.93% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC lifted its holdings in Cronos Group by 9.2% in the 1st quarter. Private Advisor Group LLC now owns 29,839 shares of the company’s stock valued at $169,000 after purchasing an additional 2,523 shares in the last quarter. AE Wealth Management LLC lifted its holdings in Cronos Group by 23.1% in the 2nd quarter. AE Wealth Management LLC now owns 13,500 shares of the company’s stock valued at $81,000 after purchasing an additional 2,530 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Cronos Group by 4.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 76,126 shares of the company’s stock valued at $458,000 after purchasing an additional 3,149 shares in the last quarter. Cambria Investment Management L.P. lifted its holdings in Cronos Group by 6.3% in the 2nd quarter. Cambria Investment Management L.P. now owns 55,301 shares of the company’s stock valued at $332,000 after purchasing an additional 3,253 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in Cronos Group by 5.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 74,818 shares of the company’s stock valued at $420,000 after purchasing an additional 3,656 shares in the last quarter. Institutional investors own 12.13% of the company’s stock.

Cronos Group Company Profile

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.

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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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