In the latest trading session, 0.8 million Cronos Group Inc. (NASDAQ:CRON) shares changed hands as the company’s beta touched 1.39. With the company’s most recent per share price at $2.36 changed hands at -$0.03 or -1.31% at last look, the market valuation stands at $1.27B. CRON’s current price is a discount, trading about -53.39% off its 52-week high of $3.62. The share price had its 52-week low at $1.64, which suggests the last value was 30.51% up since then. When we look at Cronos Group Inc.’s average trading volume, we note the 10-day average is 5.35 million shares, with the 3-month average coming to 2.56 million.
Analysts gave the Cronos Group Inc. (CRON) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended CRON as a Hold, 3 felt it is a Buy and 1 rated the stock as Underweight. Cronos Group Inc.’s EPS for the current quarter is expected to be -$0.02.
Cronos Group Inc. (NASDAQ:CRON) trade information
Instantly CRON was in red as seen in intraday trades today. With action -1.72%, the performance over the past five days has been red. The drop to weekly highs of 2.64 on Friday, 09/15/23 subtracted -1.31% to the stock’s daily price. The company’s shares are showing year-to-date downside of -7.13%, with the 5-day performance at -1.72% in the red. However, in the 30-day time frame, Cronos Group Inc. (NASDAQ:CRON) is 24.15% up. Looking at the short shares, we see there were 10.33 million shares sold at short interest cover period of 4.92 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.44, meaning bulls need an upside of 3.28% from its recent market value. According to analyst projections, CRON’s forecast low is $1.57 with $3.70 as the target high. To hit the forecast high, the stock’s price needs a -56.78% plunge from its current level, while the stock would need to tank 33.47% for it to hit the projected low.
Cronos Group Inc. (CRON) estimates and forecasts
Data shows that the Cronos Group Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 20.96% over the past 6 months, a 62.50% in annual growth rate that is considerably higher than the industry average of 9.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cronos Group Inc. will rise 80.00%, while the growth in revenue is estimated to hit 90.50% for the next quarter. Year-over-year growth is forecast to reach -12.20% down from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $19.99 million. 4 analysts are of the opinion that Cronos Group Inc.’s revenue for the quarter ending Dec 2023 will be $20.86 million. The company’s revenue for the corresponding quarters a year ago was $24.7 million and $22.89 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -19.10%. The estimates for the next quarter sales put growth at -8.90%.
The 2023 estimates are for Cronos Group Inc. earnings to increase by 58.10%, but the outlook for the next 5-year period is at 45.80% per year.
Cronos Group Inc. is expected to release its next quarterly earnings report between November 06 and November 10.
Cronos Group Inc. (NASDAQ:CRON)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 46.48% of Cronos Group Inc. shares while 13.22% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.70%. There are 13.22% institutions holding the Cronos Group Inc. stock share, with Chescapmanager LLC the top institutional holder. As of Jun 29, 2023, the company held 2.19% of the shares, roughly 8.33 million CRON shares worth $19.74 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 1.79% or 6.82 million shares worth $16.15 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were ETF Managers Tr-EFTMG Alternative Harvest ETF and Vanguard International Stock Index-Total Intl Stock Indx. With 6.49 million shares estimated at $15.39 million under it, the former controlled 1.70% of total outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held about 0.68% of the shares, roughly 2.58 million shares worth around $6.11 million.