Zacks Investment Research upgraded shares of Cronos Group (NASDAQ:CRON) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $13.00 price target on the stock.
According to Zacks, “Cronos Group, Inc. engages in the investment in firms which are licensed to produce and sell medical marijuana. Its portfolio includes In The Zone, Peace Naturals, Whistler Medical Marijuana Co., ABcann, Hydropothecary, Vert Medical and Evergreen Medicinal Supply. Cronos Group Inc., formerly known as PharmaCan Capital Corp., is headquartered in Toronto, Canada. “
Other analysts also recently issued reports about the stock. Canaccord Genuity raised shares of Cronos Group from a sell rating to a hold rating in a report on Wednesday, August 15th. Cann initiated coverage on shares of Cronos Group in a report on Friday, October 12th. They set a sell rating and a $4.50 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $8.75.
A number of institutional investors have recently bought and sold shares of CRON. Essex Investment Management Co. LLC bought a new stake in Cronos Group in the third quarter worth $1,661,000. Lourd Capital LLC bought a new stake in Cronos Group in the second quarter worth $379,000. USA Mutuals Advisors Inc. bought a new stake in Cronos Group in the third quarter worth $500,000. Commonwealth Equity Services LLC bought a new stake in Cronos Group in the first quarter worth $294,000. Finally, PEAK6 Investments L.P. bought a new stake in Cronos Group in the second quarter worth $258,000. 9.47% of the stock is owned by institutional investors and hedge funds.
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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