Cronos Group Inc. (NASDAQ:CRON – Get Free Report)’s share price rose 9% on Thursday . The stock traded as high as $2.18 and last traded at $2.18. Approximately 3,143,851 shares traded hands during trading, an increase of 31% from the average daily volume of 2,397,874 shares. The stock had previously closed at $2.00.
Analyst Upgrades and Downgrades
CRON has been the topic of a number of research analyst reports. CIBC lifted their price target on Cronos Group from $2.75 to $3.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Bank of America boosted their target price on Cronos Group from $1.78 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, December 28th.
Cronos Group Price Performance
Institutional Trading of Cronos Group
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. lifted its position in shares of Cronos Group by 139.1% in the third quarter. Vontobel Holding Ltd. now owns 214,560 shares of the company’s stock worth $428,000 after buying an additional 124,820 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of Cronos Group in the third quarter worth about $280,000. Merlin Capital LLC acquired a new stake in shares of Cronos Group in the second quarter worth about $2,663,000. TD Asset Management Inc lifted its position in shares of Cronos Group by 13.2% in the second quarter. TD Asset Management Inc now owns 197,248 shares of the company’s stock worth $389,000 after buying an additional 22,986 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Cronos Group by 14.4% in the second quarter. Mackenzie Financial Corp now owns 85,627 shares of the company’s stock worth $169,000 after buying an additional 10,809 shares during the last quarter. Institutional investors and hedge funds own 8.63% of the company’s stock.
About Cronos Group
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 brand 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.
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