Cronos Group (NASDAQ:CRON) Trading Up 7.8% – Should You Buy?

Shares of Cronos Group Inc. (NASDAQ:CRON) shot up 7.8% during mid-day trading on Thursday . The stock traded as high as $2.00 and last traded at $2.00. 1,626,609 shares changed hands during 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 Price Performance

The firm has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $2.09. The company has a market cap of $765.06 million, a PE ratio of -15.38, a P/E/G ratio of 1.74 and a beta of 0.97.

Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) 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%. Equities research analysts forecast that Cronos Group Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Formidable Asset Management LLC boosted its position in shares of Cronos Group by 2.1% during the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company’s stock worth $562,000 after purchasing an additional 5,637 shares in the last quarter. Two Sigma Advisers LP lifted its position in Cronos Group by 8.0% during the fourth quarter. Two Sigma Advisers LP now owns 275,357 shares of the company’s stock worth $556,000 after purchasing an additional 20,400 shares during the period. Shay Capital LLC lifted its stake in Cronos Group by 79.6% during the fourth quarter. Shay Capital LLC now owns 55,413 shares of the company’s stock worth $112,000 after purchasing an additional 24,563 shares during the last quarter. Millennium Management LLC increased its position in Cronos Group by 23.7% during the 4th quarter. Millennium Management LLC now owns 840,374 shares of the company’s stock worth $1,698,000 after purchasing an additional 161,163 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Cronos Group by 27.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 154,160 shares of the company’s stock valued at $310,000 after purchasing an additional 33,560 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors and hedge funds.

About Cronos Group

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.