Cronos Group (NASDAQ:CRON) Given a $10.00 Price Target at Raymond James

Raymond James set a $10.00 price target on Cronos Group (NASDAQ:CRON) in a report issued on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. BidaskClub cut shares of Cronos Group from a sell rating to a strong sell rating in a research note on Tuesday, May 12th. Zacks Investment Research cut shares of Cronos Group from a hold rating to a sell rating in a research note on Thursday, July 30th. Pi Financial reissued a hold rating and issued a $8.50 price objective on shares of Cronos Group in a research note on Monday, May 11th. Stifel Nicolaus reduced their price objective on shares of Cronos Group from $8.00 to $7.50 and set a hold rating on the stock in a research note on Monday, May 11th. Finally, Canaccord Genuity reaffirmed a sell rating and set a $6.50 price target on shares of Cronos Group in a research report on Monday, May 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Cronos Group currently has an average rating of Hold and an average target price of $9.40.

Shares of CRON opened at $5.21 on Tuesday. Cronos Group has a one year low of $4.00 and a one year high of $11.77. The company has a market cap of $1.82 billion, a P/E ratio of 11.58 and a beta of 1.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.96 and a quick ratio of 5.73. The firm has a 50 day simple moving average of $5.82 and a two-hundred day simple moving average of $6.01.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.25). The company had revenue of $9.88 million for the quarter, compared to analyst estimates of $12.29 million. Cronos Group had a negative return on equity of 2.57% and a net margin of 1,729.07%. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. On average, analysts expect that Cronos Group will post -0.09 earnings per share for the current fiscal year.

In other news, insider Todd Kevin Abraham acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $86,700.00. Following the purchase, the insider now owns 15,000 shares in the company, valued at approximately $86,700. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.93% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Cronos Group by 22.3% during the 1st quarter. Franklin Resources Inc. now owns 47,724 shares of the company’s stock valued at $268,000 after acquiring an additional 8,692 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cronos Group by 48.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,621 shares of the company’s stock valued at $352,000 after acquiring an additional 20,460 shares during the period. CIBC World Markets Inc. grew its position in shares of Cronos Group by 40.2% during the 1st quarter. CIBC World Markets Inc. now owns 28,837 shares of the company’s stock valued at $164,000 after acquiring an additional 8,275 shares during the period. Swiss National Bank boosted its holdings in Cronos Group by 9.9% in the 2nd quarter. Swiss National Bank now owns 812,700 shares of the company’s stock worth $4,863,000 after buying an additional 73,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Cronos Group by 4.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 76,126 shares of the company’s stock worth $458,000 after buying an additional 3,149 shares during the period. 12.13% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Cronos Group (NASDAQ:CRON)

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