Cronos Group Inc (NASDAQ:CRON) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 20,590,632 shares, a growth of 21.5% from the August 15th total of 16,945,292 shares. Based on an average daily trading volume, of 32,786,347 shares, the short-interest ratio is presently 0.6 days.
Shares of Cronos Group stock traded down $0.45 during trading on Friday, reaching $9.77. The company’s stock had a trading volume of 9,395,261 shares, compared to its average volume of 7,535,705. The stock has a market capitalization of $1.97 billion and a price-to-earnings ratio of 977.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 44.71 and a current ratio of 52.98. Cronos Group has a 52-week low of $2.09 and a 52-week high of $15.30.
Separately, Canaccord Genuity raised shares of Cronos Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. ETF Managers Group LLC purchased a new stake in Cronos Group during the 1st quarter valued at $13,583,000. JW Asset Management LLC bought a new position in Cronos Group in the 1st quarter worth $7,480,000. Commonwealth Equity Services LLC raised its holdings in Cronos Group by 77.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 77,445 shares of the company’s stock worth $505,000 after purchasing an additional 33,687 shares in the last quarter. Lourd Capital LLC bought a new position in Cronos Group in the 2nd quarter worth $379,000. Finally, Fiera Capital Corp bought a new position in Cronos Group in the 1st quarter worth $336,000. 9.47% of the stock is owned by institutional investors and hedge funds.
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.
See Also: Book Value Per Share – BVPS
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