Barclays lifts Cronos Group Inc. [CRON] price estimate. Who else is bullish?


Cronos Group Inc. [NASDAQ: CRON] gained 1.50% or 0.06 points to close at $4.07 with a heavy trading volume of 3859068 shares. The company report on March 21, 2022 that Cronos Group Founder Mike Gorenstein Returns as CEO.

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Kurt Schmidt, President and Chief Executive Officer, to Retire.

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), an innovative global cannabinoid company, today announced that the Board of Directors has appointed Mike Gorenstein as Chairman, President, and Chief Executive Officer, effective March 21, 2022, in connection with Kurt Schmidt’s retirement.

It opened the trading session at $4.12, the shares rose to $4.31 and dropped to $4.01, the range by which the price of stock traded the whole day. The daily chart for CRON points out that the company has recorded -27.32% loss over the past six months. However, it is still -37.97% lower than its most recent low trading price.

If we look at the average trading volume of 2.46M shares, CRON reached to a volume of 3859068 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cronos Group Inc. [CRON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRON shares is $6.03 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRON stock is a recommendation set at 3.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Cronos Group Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 22, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $5.54 to $3.24. The new note on the price target was released on January 27, 2022, representing the official price target for Cronos Group Inc. stock. Previously, the target price had yet another raise to $5, while BofA Securities analysts kept a Underperform rating on CRON stock.

The Average True Range (ATR) for Cronos Group Inc. is set at 0.27, with the Price to Sales ratio for CRON stock in the period of the last 12 months amounting to 19.29. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 2.85.

Trading performance analysis for CRON stock

Cronos Group Inc. [CRON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.90. With this latest performance, CRON shares gained by 17.97% in over the last four-week period, additionally sinking by -27.32% over the last 6 months – not to mention a drop of -56.98% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRON stock in for the last two-week period is set at 62.05, with the RSI for the last a single of trading hit 66.06, and the three-weeks RSI is set at 58.20 for Cronos Group Inc. [CRON]. The present Moving Average for the last 50 days of trading for this stock 3.57, while it was recorded at 4.05 for the last single week of trading, and 5.36 for the last 200 days.

Cronos Group Inc. [CRON]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cronos Group Inc. [CRON] shares currently have an operating margin of -264.55 and a Gross Margin at -29.58. Cronos Group Inc.’s Net Margin is presently recorded at -531.48.

Return on Equity for this stock declined to -25.64, with Return on Assets sitting at -23.51.

Cronos Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.30 and a Current Ratio set at 19.90.

An analysis of insider ownership at Cronos Group Inc. [CRON]

There are presently around $202 million, or 11.30% of CRON stock, in the hands of institutional investors. The top three institutional holders of CRON stocks are: ETF MANAGERS GROUP, LLC with ownership of 11,172,492, which is approximately 5.447% of the company’s market cap and around 46.84% of the total institutional ownership; CHESCAPMANAGER LLC, holding 8,327,090 shares of the stock with an approximate value of $33.39 million in CRON stocks shares; and VANGUARD GROUP INC, currently with $24.09 million in CRON stock with ownership of nearly 0.933% of the company’s market capitalization.

Positions in Cronos Group Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 87 institutional holders increased their position in Cronos Group Inc. [NASDAQ:CRON] by around 6,776,018 shares. Additionally, 91 investors decreased positions by around 2,872,773 shares, while 84 investors held positions by with 40,648,704 shares. The mentioned changes placed institutional holdings at 50,297,495 shares, according to the latest SEC report filing. CRON stock had 42 new institutional investments in for a total of 2,981,262 shares, while 31 institutional investors sold positions of 775,457 shares during the same period.