Cronos Group (NASDAQ:CRON) Trading 7.8% Higher – Here’s What Happened

Cronos Group Inc. (NASDAQ:CRON)’s share price shot up 7.8% on Thursday . The company traded as high as $2.00 and last traded at $2.00. 1,626,609 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,730,593 shares. The stock had previously closed at $1.85.

Cronos Group Trading Up 2.5 %

The business’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $2.09. The stock has a market capitalization of $784.19 million, a P/E ratio of -15.77, a P/E/G ratio of 1.74 and a beta of 0.97.

Institutional Investors Weigh In On Cronos Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRON. Cannell Capital LLC bought a new position in Cronos Group during the 4th quarter worth approximately $3,323,000. Raymond James Financial Inc. acquired a new position in Cronos Group during the fourth quarter worth $641,000. Tidal Investments LLC raised its position in Cronos Group by 4.4% during the third quarter. Tidal Investments LLC now owns 5,026,489 shares of the company’s stock worth $11,008,000 after acquiring an additional 210,263 shares in the last quarter. Intact Investment Management Inc. raised its position in Cronos Group by 89.1% during the third quarter. Intact Investment Management Inc. now owns 377,890 shares of the company’s stock worth $836,000 after acquiring an additional 178,100 shares in the last quarter. Finally, Millennium Management LLC raised its position in Cronos Group by 23.7% during the fourth quarter. Millennium Management LLC now owns 840,374 shares of the company’s stock worth $1,698,000 after acquiring an additional 161,163 shares in the last quarter. Institutional investors and hedge funds 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.