Cronos Group Inc. (NASDAQ: CRON) stock jumped 3.93% on Friday to $3.17 against a previous-day closing price of $3.05. With 1.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.12 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $3.1900 whereas the lowest price it dropped to was $3.0200. The 52-week range on CRON shows that it touched its highest point at $6.95 and its lowest point at $2.57 during that stretch. It currently has a 1-year price target of $4.59. Beta for the stock currently stands at 1.45.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRON was down-trending over the past week, with a drop of -7.04%, but this was up by 1.60% over a month. Three-month performance surged to 2.59% while six-month performance fell -19.54%. The stock lost -52.26% in the past year, while it has lost -19.13% so far this year. A look at the trailing 12-month EPS for CRON yields -0.37 with Next year EPS estimates of -0.19. For the next quarter, that number is -0.06. This implies an EPS growth rate of -418.00% for this year and 25.00% for next year.
Float and Shares Shorts:
At present, 376.03 million CRON shares are outstanding with a float of 198.01 million shares on hand for trading. On Jul 14, 2022, short shares totaled 13.07 million, which was 3.48% higher than short shares on Jun 14, 2022. In addition to Mr. Michael Ryan Gorenstein J.D. as the firm’s Pres, CEO & Chairman, Mr. Robert L. Madore serves as its Chief Financial Officer.
Through their ownership of 15.92% of CRON’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of CRON, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 2.87% stake in CRON, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 10,779,788 shares are owned by the mutual fund manager. The Horizons Marijuana Life Sciences, which owns about 1.34% of CRON stock, is the second-largest Mutual Fund holder. It holds 5,014,376 shares valued at 15.8 million. Vanguard Total International Stoc holds 0.66% of the stake in CRON, owning 2,489,720 shares worth 7.84 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRON since 12 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CRON analysts setting a high price target of $7.85 and a low target of $2.64, the average target price over the next 12 months is $4.38. Based on these targets, CRON could surge 147.63% to reach the target high and fall by -16.72% to reach the target low. Reaching the average price target will result in a growth of 38.17% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CRON will report FY 2022 earnings on 05/01/2023. Analysts have provided yearly estimates in a range of -$0.06 being high and -$0.30 being low. For CRON, this leads to a yearly average estimate of -$0.22. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cronos Group Inc. surprised analysts by $0.01 when it reported -$0.05 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.04 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.06.