Cronos Group (NASDAQ:CRON) Sets New 52-Week Low – Here’s Why

Cronos Group Inc. (NASDAQ:CRON) hit a new 52-week low on Friday . The stock traded as low as $1.86 and last traded at $1.88, with a volume of 67250 shares trading hands. The stock had previously closed at $1.87.

Cronos Group Stock Performance

The firm has a market cap of $728.27 million, a price-to-earnings ratio of -14.65 and a beta of 0.99. The business has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $2.23.

Institutional Trading of Cronos Group

Several hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its position in shares of Cronos Group by 4.4% during the 3rd quarter. Tidal Investments LLC now owns 5,026,489 shares of the company’s stock valued at $11,008,000 after acquiring an additional 210,263 shares during the period. Dimensional Fund Advisors LP grew its holdings in Cronos Group by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,631,783 shares of the company’s stock valued at $6,132,000 after purchasing an additional 192,469 shares during the period. Mackenzie Financial Corp purchased a new stake in Cronos Group in the second quarter worth $3,237,000. AdvisorShares Investments LLC increased its position in Cronos Group by 8.4% in the second quarter. AdvisorShares Investments LLC now owns 870,613 shares of the company’s stock worth $2,002,000 after buying an additional 67,209 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Cronos Group by 37.9% in the second quarter. Renaissance Technologies LLC now owns 464,949 shares of the company’s stock valued at $1,083,000 after buying an additional 127,753 shares during the period. Institutional investors own 8.71% of the company’s stock.

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.