Cronos Group Inc (CRON) Sees Significant Growth in Short Interest

Cronos Group Inc (NASDAQ:CRON) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 14,557,198 shares, an increase of 16.6% from the May 31st total of 12,489,037 shares. Based on an average daily volume of 5,444,902 shares, the short-interest ratio is presently 2.7 days.

Several research analysts recently issued reports on CRON shares. GMP Securities raised Cronos Group from a “hold” rating to a “buy” rating in a research report on Friday, April 6th. Canaccord Genuity lowered Cronos Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Finally, Beacon Securities reaffirmed a “buy” rating on shares of Cronos Group in a research report on Friday, May 4th.

Shares of Cronos Group opened at $6.79 on Wednesday, Marketbeat.com reports. The firm has a market cap of $1.28 billion and a P/E ratio of 679.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 20.68 and a quick ratio of 15.92. Cronos Group has a 12-month low of $1.00 and a 12-month high of $11.90.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Monday, April 30th. The company reported $0.01 earnings per share for the quarter. Cronos Group had a return on equity of 2.74% and a net margin of 35.12%. The firm had revenue of $1.27 million during the quarter. analysts expect that Cronos Group will post -0.01 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. JW Asset Management LLC bought a new position in shares of Cronos Group in the 1st quarter worth about $7,480,000. Fiera Capital Corp bought a new position in shares of Cronos Group in the 1st quarter worth about $336,000. Polar Asset Management Partners Inc. bought a new position in shares of Cronos Group in the 1st quarter worth about $216,000. ETF Managers Group LLC bought a new position in shares of Cronos Group in the 1st quarter worth about $13,583,000. Finally, Royal Bank of Canada bought a new position in shares of Cronos Group in the 1st quarter worth about $169,000. 9.81% of the stock is owned by hedge funds and other institutional investors.

Cronos Group Company Profile

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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