In the last trading session, 4.97 million shares of the Cronos Group Inc (NASDAQ:CRON) were traded, and its beta was 1.17. Most recently the company’s share price was $2.61, and it changed around -$0.09 or -3.33% from the last close, which brings the market valuation of the company to $995.19M. CRON currently trades at a discount to its 52-week high of $2.73, offering almost -4.6% off that amount. The share price’s 52-week low was $1.64, which indicates that the current value has risen by an impressive 37.16% since then. We note from Cronos Group Inc’s average daily trading volume that its 10-day average is 4.73 million shares, with the 3-month average coming to 2.58 million.
Cronos Group Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.38. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended CRON as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Cronos Group Inc is expected to report earnings per share of -$0.01 for the current quarter.
Cronos Group Inc (NASDAQ:CRON) trade information
Instantly CRON has showed a red trend with a performance of -3.33% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 24.88% year-to-date, but still up 9.21% over the last five days. On the other hand, Cronos Group Inc (NASDAQ:CRON) is 15.49% up in the 30-day period. We can see from the shorts that 6.44 million shares have been sold at a short interest cover period of 3.27 day(s).
The consensus price target as assigned by Wall Street analysts is $4, which translates to bulls needing to increase their stock price by 34.75% from its current value. Analyst projections state that CRON is forecast to be at a low of $3.5 and a high of $4.5.
Cronos Group Inc (CRON) estimates and forecasts
Cronos Group Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 26.09 percent over the past six months and at a 90.00% annual growth rate that is well above the industry average of 8.20%. The year-over-year growth rate is expected to be 15.70%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $23.78 million in revenue for the current quarter. 3 analysts expect Cronos Group Inc to make $24.5 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $20.14 million and $19.02 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 18.10%. Forecasts for the next quarter put sales growth at 28.80%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -9.06%. Cronos Group Inc earnings are expected to increase by 68.89% in 2024, but the outlook is positive 45.80% per year for the next five years.
CRON Dividends
Cronos Group Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.
Cronos Group Inc (NASDAQ:CRON)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 46.65% of Cronos Group Inc shares, and 13.13% of them are in the hands of institutional investors. The stock currently has a share float of 24.61%. Cronos Group Inc stock is held by 201 institutions, with Chescapmanager LLC being the largest institutional investor. By Jun 29, 2023, it held 2.18% of the shares, which is about 8.33 million shares worth $16.4 million.
Vanguard Group Inc, with 1.79% or 6.82 million shares worth $13.43 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
ETF Managers Tr-EFTMG Alternative Harvest ETF and Vanguard International Stock Index-Total Intl Stock Indx were the top two Mutual Funds as of Jun 29, 2023. The former held 6.49 million shares worth $12.79 million, making up 1.70% of all outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held roughly 2.58 million shares worth around $5.0 million, which represents about 0.68% of the total shares outstanding.
