Look For Institutional Buying In Cronos Group Inc (NASDAQ: CRON)

Cronos Group Inc (CRON) concluded trading on Wednesday at a closing price of $2.88, with 6.98 million shares of worth about $20.09 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 46.94% during that period and on April 3, 2024 the price saw a gain of about 8.68%. Currently the company’s common shares owned by public are about 381.30M shares, out of which, 198.81M shares are available for trading.

However, the stock later moved at a day high price of 2.8992, or with a gain of 8.68%. Stock saw a price change of 9.09% in past 5 days and over the past one month there was a price change of 49.22%. Year-to-date (YTD), CRON shares are showing a performance of 37.80% which increased to 48.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.64 but also hit the highest price of $2.77 during that period. The average intraday trading volume for Cronos Group Inc shares is 2.64 million. The stock is currently trading 26.45% above its 20-day simple moving average (SMA20), while that difference is up 31.83% for SMA50 and it goes to 43.34% higher than SMA200.

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Cronos Group Inc (NASDAQ: CRON) currently have 381.30M outstanding shares and institutions hold larger chunk of about 12.39% of that.

The stock has a current market capitalization of $1.10B and its 3Y-monthly beta is at 1.17. It has posted earnings per share of -$0.19 in the same period. It has Quick Ratio of 21.81 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRON, volatility over the week remained 6.59% while standing at 6.12% over the month.

Analysts are in expectations that Cronos Group Inc (CRON) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is -$0.06 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.01 which is -$0.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 68.89% while it is estimated to increase by 135.71% in next year. EPS is likely to grow at an annualized rate of 45.80% for next 5-years, compared to annual growth of -9.06% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on November 02, 2022 offering a Mkt perform rating for the stock and assigned a target price of $3 to it. Stock get a Hold rating from Jefferies on January 27, 2022.

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