Cronos Group (NASDAQ:CRON) Trading 7.8% Higher – Still a Buy?

Cronos Group Inc. (NASDAQ:CRON) shot up 7.8% during trading on Thursday . The company traded as high as $2.00 and last traded at $2.00. 1,626,609 shares were traded during mid-day trading, a decline of 6% from the average session volume of 1,730,593 shares. The stock had previously closed at $1.85.

Cronos Group Stock Up 8.1 %

The company has a fifty day moving average price of $1.96 and a 200-day moving average price of $2.09. The stock has a market capitalization of $765.06 million, a P/E ratio of -15.38, a PEG ratio of 1.74 and a beta of 0.97.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Cronos Group had a negative return on equity of 2.56% and a negative net margin of 42.65%. As a group, research analysts expect that Cronos Group Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently modified their holdings of CRON. Tower Research Capital LLC TRC grew its stake in shares of Cronos Group by 140.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company’s stock worth $28,000 after purchasing an additional 8,019 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Cronos Group in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. bought a new stake in Cronos Group during the fourth quarter worth about $30,000. Jones Financial Companies Lllp boosted its position in Cronos Group by 64.5% in the 4th quarter. Jones Financial Companies Lllp now owns 16,623 shares of the company’s stock valued at $34,000 after buying an additional 6,520 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Cronos Group in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

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.