Cronos Group Inc (NASDAQ: CRON) stock jumped 6.63% on Monday to $2.09 against a previous-day closing price of $1.96. With 2.28 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.52 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $2.0900 whereas the lowest price it dropped to was $1.9500. The 52-week range on CRON shows that it touched its highest point at $3.62 and its lowest point at $1.64 during that stretch. It currently has a 1-year price target of $2.51. Beta for the stock currently stands at 1.29.
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 up-trending over the past week, with a rise of 3.98%, but this was up by 20.81% over a month. Three-month performance surged to 18.75% while six-month performance rose 5.56%. The stock lost -29.15% in the past year, while it has lost -17.72% so far this year. A look at the trailing 12-month EPS for CRON yields -0.28 with Next year EPS estimates of -0.04. For the next quarter, that number is -0.01. This implies an EPS growth rate of 80.74% for this year and 55.77% for next year.
Float and Shares Shorts:
At present, 380.58 million CRON shares are outstanding with a float of 198.38 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.25 million, which was 2.16% higher than short shares on Sep 28, 2023. In addition to Mr. Michael Ryan Gorenstein J.D. as the firm’s President, CEO & Chairman, Mr. James Holm serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 13.22% of CRON’s outstanding shares, institutional investors have minority control over the company. With a 2.20% stake in CRON, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 8,395,210 shares are owned by the mutual fund manager. The Horizons Marijuana Life Sciences, which owns about 1.12% of CRON stock, is the second-largest Mutual Fund holder. It holds 4,260,867 shares valued at 7.71 million. Vanguard Total International Stoc holds 0.68% of the stake in CRON, owning 2,577,810 shares worth 4.67 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRON since 0 analysts follow the stock currently. 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 $3.62 and a low target of $1.78, the average target price over the next 12 months is $2.51. Based on these targets, CRON could surge 73.21% to reach the target high and fall by -14.83% to reach the target low. Reaching the average price target will result in a growth of 20.1% from current levels.
Summary of Insider Activity:
Insiders traded CRON stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 34,352 shares were bought while 10,764 shares were sold. The number of buy transactions has increased to 84 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 4,401,567 while 230,282 shares were sold.
