Short Interest in Cronos Group Inc. (NASDAQ:CRON) Declines By 10.8%

Cronos Group Inc. (NASDAQ:CRONGet Rating) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 10,220,000 shares, a decrease of 10.8% from the August 15th total of 11,460,000 shares. Currently, 5.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,990,000 shares, the short-interest ratio is presently 5.1 days.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRON shares. Raymond James reaffirmed a “buy” rating and set a $7.00 price objective on shares of Cronos Group in a research report on Friday, July 29th. Canaccord Genuity Group raised Cronos Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Finally, Canaccord Genuity Group raised Cronos Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.50.

Cronos Group Stock Performance

Shares of CRON traded up $0.01 during mid-day trading on Monday, reaching $3.06. The company’s stock had a trading volume of 696,704 shares, compared to its average volume of 2,129,957. Cronos Group has a 1-year low of $2.57 and a 1-year high of $6.79. The stock has a market cap of $1.16 billion, a P/E ratio of -10.55 and a beta of 1.58. The business has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.17. The company has a current ratio of 26.18, a quick ratio of 25.16 and a debt-to-equity ratio of 0.01.

Institutional Trading of Cronos Group

Hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. increased its stake in shares of Cronos Group by 250.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 7,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares during the period. Ferguson Shapiro LLC bought a new position in shares of Cronos Group during the second quarter worth approximately $30,000. SG Americas Securities LLC bought a new position in shares of Cronos Group during the first quarter worth approximately $51,000. Sageworth Trust Co bought a new position in shares of Cronos Group during the first quarter worth approximately $58,000. Finally, Quantbot Technologies LP bought a new position in shares of Cronos Group during the second quarter worth approximately $43,000. 12.08% of the stock is owned by institutional investors and hedge funds.

About Cronos Group

(Get Rating)

Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.

Further Reading

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