Cronos Group (NASDAQ:CRON) Shares Gap Up – Here’s What Happened

Cronos Group Inc. (NASDAQ:CRON) gapped up before the market opened on Tuesday . The stock had previously closed at $1.97, but opened at $2.08. Cronos Group shares last traded at $2.33, with a volume of 1,218,479 shares.

Cronos Group Stock Up 14.7 %

The stock’s fifty day simple moving average is $2.17 and its 200-day simple moving average is $2.36. The company has a market capitalization of $864.00 million, a PE ratio of -14.93 and a beta of 0.98.

Hedge Funds Weigh In On Cronos Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its position in Cronos Group by 50.4% in the first quarter. Janney Montgomery Scott LLC now owns 304,063 shares of the company’s stock worth $794,000 after buying an additional 101,903 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Cronos Group in the first quarter valued at about $79,000. MMCAP International Inc. SPC acquired a new position in shares of Cronos Group during the first quarter worth approximately $96,000. Cedar Wealth Management LLC acquired a new position in Cronos Group in the first quarter valued at approximately $60,000. Finally, Toronto Dominion Bank raised its holdings in Cronos Group by 204.8% in the first quarter. Toronto Dominion Bank now owns 17,054 shares of the company’s stock worth $45,000 after purchasing an additional 11,459 shares during the period. 8.71% of the stock is currently 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.