Cronos Group (NASDAQ:CRON) Trading 8.8% Higher – Here’s Why

Cronos Group Inc. (NASDAQ:CRON) shares traded up 8.8% during mid-day trading on Wednesday . The company traded as high as $2.03 and last traded at $2.05. 775,386 shares were traded during mid-day trading, a decline of 42% from the average session volume of 1,347,799 shares. The stock had previously closed at $1.88.

Cronos Group Stock Performance

The firm has a market capitalization of $792.51 million, a price-to-earnings ratio of -15.88, a P/E/G ratio of 1.71 and a beta of 0.97. The business has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $2.13.

Institutional Trading of Cronos Group

A number of hedge funds and other institutional investors have recently modified their holdings of CRON. Thompson Davis & CO. Inc. acquired a new stake in shares of Cronos Group during the 4th quarter worth about $29,000. Quantbot Technologies LP acquired a new stake in shares of Cronos Group during the 3rd quarter worth about $37,000. International Assets Investment Management LLC increased its position in shares of Cronos Group by 119.0% during the 3rd quarter. International Assets Investment Management LLC now owns 41,643 shares of the company’s stock worth $91,000 after purchasing an additional 22,628 shares during the last quarter. Barclays PLC acquired a new stake in shares of Cronos Group during the 3rd quarter worth about $97,000. Finally, Virtu Financial LLC increased its position in shares of Cronos Group by 242.7% during the 3rd quarter. Virtu Financial LLC now owns 54,516 shares of the company’s stock worth $119,000 after purchasing an additional 38,607 shares during the last quarter. 8.71% of the stock is owned by institutional investors and hedge funds.

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.