Cronos Group (NASDAQ:CRON) Trading 4.9% Higher – Time to Buy?

Cronos Group Inc. (NASDAQ:CRON)’s stock price rose 4.9% during mid-day trading on Wednesday . The stock traded as high as $1.82 and last traded at $1.81. 2,056,364 shares changed hands during trading, an increase of 40% from the average daily volume of 1,468,205 shares. The stock had previously closed at $1.72.

Cronos Group Stock Performance

The stock has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $1.98. The stock has a market capitalization of $682.17 million, a PE ratio of -13.62, a PEG ratio of 1.74 and a beta of 1.02.

Institutional Investors Weigh In On Cronos Group

Several institutional investors and hedge funds have recently modified their holdings of CRON. Formidable Asset Management LLC raised its stake in shares of Cronos Group by 2.1% in the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company’s stock valued at $562,000 after acquiring an additional 5,637 shares during the period. Jones Financial Companies Lllp boosted its holdings in Cronos Group by 64.5% during the 4th quarter. Jones Financial Companies Lllp now owns 16,623 shares of the company’s stock valued at $34,000 after acquiring an additional 6,520 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Cronos Group by 140.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company’s stock worth $28,000 after purchasing an additional 8,019 shares during the last quarter. Kerrisdale Advisers LLC increased its stake in Cronos Group by 2.3% in the 4th quarter. Kerrisdale Advisers LLC now owns 468,786 shares of the company’s stock worth $947,000 after buying an additional 10,539 shares during the period. Finally, Thompson Davis & CO. Inc. purchased a new stake in Cronos Group in the 4th quarter valued at about $29,000. Institutional investors own 8.71% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.