Analysts at MKM Partners started coverage on shares of Cronos Group (NASDAQ:CRON) in a report released on Thursday, September 19th, The Fly reports. The firm set a “neutral” rating and a $14.00 price target on the stock. MKM Partners’ price objective would indicate a potential upside of 78.46% from the company’s current price.
Several other brokerages have also recently weighed in on CRON. Stifel Nicolaus started coverage on shares of Cronos Group in a research note on Wednesday, June 5th. They set a “hold” rating on the stock. Canaccord Genuity raised shares of Cronos Group from a “sell” rating to a “hold” rating and upped their price objective for the stock from $16.00 to $17.00 in a research note on Friday, August 9th. Consumer Edge started coverage on shares of Cronos Group in a research note on Friday, June 28th. They set an “equal weight” rating on the stock. Zacks Investment Research lowered shares of Cronos Group from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets upgraded shares of Cronos Group from an “underperform” rating to a “market perform” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.33.
Cronos Group stock traded down $0.11 during trading hours on Thursday, hitting $7.85. 5,567,794 shares of the stock were exchanged, compared to its average volume of 3,343,747. The stock has a market capitalization of $2.92 billion, a P/E ratio of -98.06 and a beta of 3.46. Cronos Group has a 12 month low of $6.50 and a 12 month high of $25.10. The business’s 50-day moving average is $10.40 and its two-hundred day moving average is $14.29.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Cronos Group by 77.7% during the second quarter. Vanguard Group Inc. now owns 9,068,103 shares of the company’s stock worth $144,910,000 after purchasing an additional 3,966,024 shares in the last quarter. ETF Managers Group LLC acquired a new position in Cronos Group in the second quarter valued at approximately $95,437,000. Janus Henderson Group PLC lifted its holdings in Cronos Group by 4,474.9% in the second quarter. Janus Henderson Group PLC now owns 800,600 shares of the company’s stock valued at $12,871,000 after buying an additional 783,100 shares during the period. Swiss National Bank lifted its holdings in Cronos Group by 19.1% in the second quarter. Swiss National Bank now owns 693,400 shares of the company’s stock valued at $11,124,000 after buying an additional 111,000 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in Cronos Group by 8.6% in the second quarter. UBS Asset Management Americas Inc. now owns 679,080 shares of the company’s stock valued at $10,918,000 after buying an additional 53,833 shares during the period. Institutional investors own 11.45% 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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