Cronos Group (CRON) Given a $30.00 Price Target by CIBC Analysts

Cronos Group (NASDAQ:CRON) has been given a $30.00 price target by equities research analysts at CIBC in a research note issued to investors on Wednesday, March 27th, TipRanks reports. The firm presently has a “buy” rating on the stock. CIBC’s price objective would indicate a potential upside of 90.48% from the stock’s previous close.

Several other research firms also recently issued reports on CRON. GMP Securities downgraded shares of 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. Canaccord Genuity downgraded shares of Cronos Group from a “hold” rating to a “sell” rating and set a $17.00 price objective for the company. in a report on Wednesday, March 27th. Jefferies Financial Group started coverage on shares of Cronos Group in a research note on Monday, February 25th. They set an “underperform” rating for the company. Zacks Investment Research upgraded shares of Cronos Group from a “strong sell” rating to a “hold” rating in a research note on Monday, February 11th. Finally, BMO Capital Markets cut shares of Cronos Group from a “market perform” rating to an “underperform” rating and set a $21.43 target price for the company. in a research note on Monday, March 11th. They noted that the move was a valuation call. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.03.

Shares of NASDAQ CRON traded down $0.17 during trading hours on Wednesday, hitting $15.75. 8,986,088 shares of the stock were exchanged, compared to its average volume of 8,137,237. The company has a market cap of $2.81 billion, a P/E ratio of -196.88 and a beta of 4.23. Cronos Group has a one year low of $5.50 and a one year high of $25.10.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $4.24 million for the quarter, compared to the consensus estimate of $6.70 million. Cronos Group had a negative return on equity of 9.50% and a negative net margin of 120.65%. As a group, sell-side analysts anticipate that Cronos Group will post -0.03 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. RPG Investment Advisory LLC raised its stake in shares of Cronos Group by 237.5% in the 1st quarter. RPG Investment Advisory LLC now owns 1,350 shares of the company’s stock valued at $25,000 after buying an additional 950 shares in the last quarter. First Command Bank acquired a new position in shares of Cronos Group in the 4th quarter valued at $28,000. First Command Financial Services Inc. acquired a new position in shares of Cronos Group in the 4th quarter valued at $28,000. Advisory Services Network LLC raised its stake in shares of Cronos Group by 800.0% in the 4th quarter. Advisory Services Network LLC now owns 2,700 shares of the company’s stock valued at $28,000 after buying an additional 2,400 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in shares of Cronos Group in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 14.14% of the company’s stock.

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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