Zacks Investment Research upgraded shares of Cronos Group (NASDAQ:CRON) from a hold rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. The firm currently has $4.75 price target on the stock.
According to Zacks, “Cronos Group, Inc. engages in the investment in firms which are licensed to produce and sell medical marijuana. Its portfolio includes In The Zone, Peace Naturals, Whistler Medical Marijuana Co., ABcann, Hydropothecary, Vert Medical and Evergreen Medicinal Supply. Cronos Group Inc., formerly known as PharmaCan Capital Corp., is headquartered in Toronto, Canada. “
A number of other research analysts have also issued reports on CRON. Barclays assumed coverage on shares of Cronos Group in a report on Thursday, November 18th. They issued an underweight rating and a $5.50 target price on the stock. Bank of America assumed coverage on shares of Cronos Group in a report on Thursday, November 18th. They issued an underperform rating and a $5.00 target price on the stock. Finally, Raymond James set a $11.00 target price on shares of Cronos Group and gave the company an outperform rating in a report on Thursday, October 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Cronos Group presently has an average rating of Hold and a consensus target price of $7.68.
NASDAQ:CRON opened at $4.11 on Monday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -10.02 and a beta of 1.70. The company’s 50-day moving average is $5.15 and its two-hundred day moving average is $6.51. Cronos Group has a 12-month low of $3.88 and a 12-month high of $15.83.
Several hedge funds and other institutional investors have recently bought and sold shares of CRON. Morgan Stanley increased its stake in shares of Cronos Group by 128.9% during the 1st quarter. Morgan Stanley now owns 1,252,895 shares of the company’s stock valued at $11,853,000 after acquiring an additional 705,640 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cronos Group by 140.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,096 shares of the company’s stock worth $9,046,000 after purchasing an additional 614,794 shares in the last quarter. Capital World Investors increased its position in Cronos Group by 26.0% during the 3rd quarter. Capital World Investors now owns 1,585,000 shares of the company’s stock worth $8,947,000 after purchasing an additional 327,000 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Cronos Group during the 3rd quarter worth approximately $1,335,000. Finally, Vanguard Group Inc. increased its position in Cronos Group by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,670,485 shares of the company’s stock worth $48,766,000 after purchasing an additional 189,328 shares in the last quarter. 13.80% of the stock is owned by institutional investors.
Cronos Group Company Profile
Cronos Group, Inc engages in the production and distribution of cannabis. Its brands include PEACE NATURALS, COVE, Spinach, Lord Jones, and PEACE+. The company was founded by Lorne Michael Gertner and Paul Rosen on August 21, 2012 and is headquartered in Toronto, Canada.
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