Cronos Group Inc (NASDAQ:CRON) shares, rose in value on Friday, November 01, with the stock price up by 3.35% to the previous day’s close as strong demand from buyers drove the stock to $2.16.
Actively observing the price movement in the last trading, the stock closed the session at $2.09, falling within a range of $2.09 and $2.185. The value of beta (5-year monthly) was 1.024. Referring to stock’s 52-week performance, its high was $3.14, and the low was $1.72. On the whole, CRON has fluctuated by -3.57% over the past month.
With the market capitalization of Cronos Group Inc currently standing at about $1.16 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-12.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 109.34M, with a low estimate of 28.9M and a high estimate of 29.3M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 29.1M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CRON’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of CRON currently trading nearly -0.69% and -1.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.17, while the 7-day volatility ratio is showing 3.61% which for the 30-day chart, stands at 3.47%. Furthermore, Cronos Group Inc (CRON)’s beta value is 0.98, and its average true range (ATR) is 0.08.
A comparison of Cronos Group Inc (CRON) with its peers suggests the former has fared considerably weaker in the market. CRON showed an intraday change of 3.35% in last session, and over the past year, it grew by 24.14%%.
Data on historical trading for Cronos Group Inc (NASDAQ:CRON) indicates that the trading volumes over the past 10 days have averaged 0.85 and over the past 3 months, they’ve averaged 892.73K. According to company’s latest data on outstanding shares, there are 381.30 million shares outstanding.
Nearly 47.60% of Cronos Group Inc’s shares belong to company insiders and institutional investors own 12.41% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.92 million shares as on 2024-10-15, resulting in a short ratio of 5.9. According to the data, the short interest in Cronos Group Inc (CRON) stood at 246.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 5.1 million. The stock has risen by 3.35% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRON stock heading into the next quarter.
