Cronos Group (NASDAQ:CRON) Trading 6.1% Higher – What’s Next?

Cronos Group Inc. (NASDAQ:CRON) rose 6.1% during trading on Tuesday . The company traded as high as $2.26 and last traded at $2.26. Approximately 1,015,129 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,967,656 shares. The stock had previously closed at $2.13.

Cronos Group Stock Up 7.5 %

The firm has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $2.39. The stock has a market capitalization of $875.47 million, a P/E ratio of -15.20 and a beta of 0.97.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $27.76 million for the quarter, compared to the consensus estimate of $25.85 million. Cronos Group had a negative net margin of 56.43% and a negative return on equity of 2.06%. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Sell-side analysts anticipate that Cronos Group Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRON. Tidal Investments LLC purchased a new position in Cronos Group in the 1st quarter worth about $17,217,000. Mackenzie Financial Corp purchased a new position in shares of Cronos Group during the second quarter valued at approximately $3,237,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Cronos Group by 47.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,002,668 shares of the company’s stock valued at $2,617,000 after purchasing an additional 321,254 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cronos Group by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,631,783 shares of the company’s stock worth $6,132,000 after purchasing an additional 192,469 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Cronos Group by 37.9% in the 2nd quarter. Renaissance Technologies LLC now owns 464,949 shares of the company’s stock worth $1,083,000 after purchasing an additional 127,753 shares during the period. 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.