The trading price of Cronos Group Inc. (NASDAQ:CRON) floating lower at last check on Tuesday, Feb 23, closing at $11.69, -7.44% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $10.10 and $11.28. The company’s P/E ratio in the trailing 12-month period was 40.73, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $15.83 and a 52-week low of $4. Over the past month, the stock has gained 8.85% in value.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cronos Group Inc. no upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CRON has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CRON a recommendation rating is 13. Out of them, 8 rate it a Hold, while 1 recommend Buy, whereas 1 assign an Outperform rating. None analyst(s) have tagged Cronos Group Inc. (CRON) as Underperform, while 3 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that CRON’s price is currently -8.78% off the SMA20 and 8.68% off the SMA50. The RSI metric on the 14-day chart is currently showing 46.63, and weekly volatility stands at 6.32%. When measured over the past 30 days, the indicator reaches 9.13%. Cronos Group Inc. (NASDAQ:CRON)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 1.08. With analysts defining $3.8-$12.5 as the low and high price targets, we arrive at a consensus price target of $6.88 for the trailing 12-month period. The current price is about -64.88% off the estimated low and 15.53% off the forecast high, based on this estimate. Investors will be thrilled if CRON’s share price rises to $6.23, which is the median consensus price. At that level, CRON’s share price would be -42.42% above current price.
To see how Cronos Group Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: CRON stock’s performance was -7.44% at last check in today’s session, and +63.5% in the past year, while Zoetis Inc Cl A (ZTS) has been trading +0.05% in recent session and positioned +12.61% higher than it was a year ago. Another comparable company Takeda Pharmaceutical CO Ltd (TAK) saw its stock trading -2.65% lower in today’s session but was down -7.66% in a year. Furthermore, Catalent Inc (CTLT) showed a decline of -7.44% today while its price kept rising at 63.5% over the past year. Cronos Group Inc. has a P/E ratio of 40.73, compared to Zoetis Inc Cl A’s 46.79 and Takeda Pharmaceutical CO Ltd’s 21.38. Also during today’s trading, the S&P 500 Index has soared -0.93%, while the Dow Jones Industrial also saw a negative seesion, down -0.54% today.
An evaluation of the daily trading volume of Cronos Group Inc. (NASDAQ:CRON) indicates that the 3-month average is 6.86 Million. However, this figure has declined over the past 10 days to an average of 6.51 Million.
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Currently, records show that 356.19 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 49.22% of outstanding shares, whereas institutions hold 14.6%. The stats also highlight that short interest as of January 28, 2021, stood at 26.09 Million shares, resulting in a short ratio of 4.34 at that time. From this, we can conclude that short interest is 7.32% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 28.73 Million. However, since the stock’s price has seen +68.44% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.