Cronos Group (CRON) Releases Quarterly Earnings Results

Cronos Group (NASDAQ:CRON) posted its earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, Morningstar.com reports. Cronos Group had a return on equity of 3.41% and a net margin of 35.12%. The firm had revenue of $2.33 million for the quarter.

CRON stock opened at $6.04 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.85 and a current ratio of 3.39. Cronos Group has a 52-week low of $6.02 and a 52-week high of $6.34. The stock has a market cap of $1.10 billion and a PE ratio of 604.00.

Several equities research analysts have recently issued reports on CRON shares. Canaccord Genuity lowered shares of Cronos Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. GMP Securities raised shares of Cronos Group from a “hold” rating to a “buy” rating in a research note on Friday, April 6th. Finally, Beacon Securities reissued a “buy” rating on shares of Cronos Group in a research note on Friday, May 4th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ETF Managers Group LLC acquired a new position in shares of Cronos Group during the 1st quarter worth about $13,583,000. JW Asset Management LLC acquired a new position in shares of Cronos Group during the 1st quarter worth about $7,480,000. Fiera Capital Corp acquired a new position in shares of Cronos Group during the 1st quarter worth about $336,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Cronos Group during the 1st quarter worth about $294,000. Hedge funds and other institutional investors own 0.15% of the company’s stock.

About Cronos Group

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations (?MMPR?). The firm typically invests in companies based in Canada.

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