Cronos Group Inc. (NASDAQ:CRON) Short Interest Update

Cronos Group Inc. (NASDAQ:CRONGet Free Report) was the recipient of a large drop in short interest in May. As of May 31st, there was short interest totalling 5,240,000 shares, a drop of 21.9% from the May 15th total of 6,710,000 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,250,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CRON shares. Bank of America boosted their target price on shares of Cronos Group from $2.00 to $2.50 and gave the stock an “underperform” rating in a research note on Monday, April 8th. CIBC boosted their price objective on Cronos Group from $3.00 to $3.50 and gave the stock an “outperformer” rating in a research note on Wednesday, May 15th.

Get Our Latest Research Report on Cronos Group

Hedge Funds Weigh In On Cronos Group

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank grew its holdings in shares of Cronos Group by 204.8% during the 1st quarter. Toronto Dominion Bank now owns 17,054 shares of the company’s stock worth $45,000 after purchasing an additional 11,459 shares during the period. Chesapeake Capital Corp IL purchased a new stake in shares of Cronos Group during the fourth quarter worth approximately $25,000. Vontobel Holding Ltd. grew its holdings in Cronos Group by 6.6% during the 4th quarter. Vontobel Holding Ltd. now owns 228,780 shares of the company’s stock worth $478,000 after acquiring an additional 14,220 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Cronos Group by 39.4% in the first quarter. SeaCrest Wealth Management LLC now owns 67,225 shares of the company’s stock valued at $175,000 after buying an additional 19,000 shares in the last quarter. Finally, Revisor Wealth Management LLC acquired a new position in shares of Cronos Group during the 1st quarter worth about $51,000. 8.71% of the stock is owned by hedge funds and other institutional investors.

Cronos Group Trading Down 1.7 %

CRON stock traded down $0.04 during midday trading on Monday, reaching $2.34. The stock had a trading volume of 806,602 shares, compared to its average volume of 2,767,311. Cronos Group has a 52-week low of $1.64 and a 52-week high of $3.14. The company has a market cap of $893.91 million, a price-to-earnings ratio of -15.60 and a beta of 1.05. The company’s fifty day simple moving average is $2.61 and its 200 day simple moving average is $2.31.

Cronos Group (NASDAQ:CRONGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Cronos Group had a negative net margin of 61.31% and a negative return on equity of 3.06%. The firm had revenue of $25.29 million for the quarter, compared to the consensus estimate of $24.30 million. During the same period last year, the firm posted ($0.03) earnings per share.

Cronos Group Company Profile

(Get Free Report)

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.

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