Cronos Group Inc (TSE:CRON) dropped 2.2% on Monday . The stock traded as low as C$6.73 and last traded at C$6.81. Approximately 579,685 shares changed hands during trading, a decline of 42% from the average daily volume of 1,005,630 shares. The stock had previously closed at C$6.96.
CRON has been the topic of several recent analyst reports. Pi Financial set a C$8.50 target price on Cronos Group and gave the stock a “neutral” rating in a research report on Friday, August 7th. Jefferies Financial Group reduced their target price on Cronos Group from C$6.00 to C$5.60 in a research report on Monday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$9.39.
The business has a 50 day simple moving average of C$7.35 and a two-hundred day simple moving average of C$8.13. The company has a current ratio of 5.96, a quick ratio of 5.68 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.38 billion and a price-to-earnings ratio of 3.49.
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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