Mascoma Wealth Management LLC decreased its position in Cronos Group Inc (NASDAQ:CRON) by 32.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,024 shares of the company’s stock after selling 1,476 shares during the quarter. Mascoma Wealth Management LLC’s holdings in Cronos Group were worth $56,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. ETF Managers Group LLC bought a new position in Cronos Group in the fourth quarter valued at about $72,585,000. Morgan Stanley lifted its holdings in Cronos Group by 10.1% in the third quarter. Morgan Stanley now owns 833,337 shares of the company’s stock valued at $9,266,000 after acquiring an additional 76,151 shares during the period. TD Asset Management Inc. bought a new position in Cronos Group in the fourth quarter valued at about $5,840,000. Two Sigma Advisers LP lifted its holdings in Cronos Group by 544.3% in the fourth quarter. Two Sigma Advisers LP now owns 388,828 shares of the company’s stock valued at $4,099,000 after acquiring an additional 328,479 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in Cronos Group by 5.3% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 219,602 shares of the company’s stock valued at $2,281,000 after acquiring an additional 11,013 shares during the period. 14.14% of the stock is currently owned by institutional investors.
CRON traded down $0.68 during midday trading on Tuesday, reaching $16.18. The company had a trading volume of 188,450 shares, compared to its average volume of 14,450,791. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -202.06 and a beta of 4.23. Cronos Group Inc has a 1 year low of $5.50 and a 1 year high of $25.10.
Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Tuesday, March 26th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $4.24 million during the quarter, compared to analysts’ expectations of $6.70 million. Cronos Group had a negative return on equity of 9.50% and a negative net margin of 120.65%. Equities research analysts forecast that Cronos Group Inc will post -0.03 EPS for the current year.
A number of research analysts have weighed in on CRON shares. CIBC set a $30.00 target price on Cronos Group and gave the company a “buy” rating in a report on Wednesday, March 27th. Zacks Investment Research raised Cronos Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 11th. GMP Securities downgraded Cronos Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Eight Capital downgraded Cronos Group to a “hold” rating in a report on Thursday, March 7th. Finally, Cowen started coverage on Cronos Group in a report on Tuesday, March 5th. They issued a “market perform” rating on the stock. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $17.03.
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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