Cronos Group Inc. (NASDAQ:CRON) finished Friday with a subtraction of -$0.02 to close at $1.73, a downside of -1.14 percent. An average of 1,392,340 shares of common stock have been traded in the last five days. There was a fall of -$0.1200 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,356,375 shares traded, while the 50-day average volume stands at 1,636,284.
CRON stock has decreased by -16.02% in the last month. The company shares reached their 1-month lowest point of $1.6400 on 08/08/23. With the stock rallying to its 52-week high on 01/09/23, shares of the company touched a low of $1.64 and a high of $3.62 in 52 weeks. It has reached a new high 2 times so far this year and lost -31.89% or -$0.8100 in price. In spite of this, the price is down -52.16% from the 52-week high.
Valuation Metrics
Cronos Group Inc. (CRON) stock’s beta is 1.43. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.67, the price-to-book (PB) ratio at 0.44.
Financial Health
The quick ratio of Cronos Group Inc. for the three months ended June 29 was 29.90, and the current ratio was 31.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Cronos Group Inc.’s EBITDA margin for the year ending June 29 is -111.95%. Its gross profit as reported stood at $11.97 million compared to revenue of $91.9 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cronos Group Inc.’s return on assets was -12.60%.
Earnings Surprise
For the three-month period that ended June 29, Cronos Group Inc. had $431.51 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$8.36 million in the quarter, while revenues of -$19.17 million were shrunk -141.87%. The analyst consensus anticipated Cronos Group Inc.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.01, a 66.70% surprise. For the quarter, EBITDA amounted to -$18.24 million. At the end of the quarter ending June 29, Cronos Group Inc.’s stock balance sheet showed total liabilities of 31.67 million. Shareholders own equity worth $381.09 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cronos Group Inc. (CRON) price momentum. RSI 9-day as of the close on 11 August was 34.37%, suggesting the stock is Neutral, with historical volatility in this time frame at 26.36%.
As of today, CRON’s price is $1.7640 -6.49% or -$0.1200 from its 5-day moving average. CRON is currently trading -9.42% lower than its 20-day SMA and -7.49% lower than its 100-day SMA. However, the stock’s current price level is -1.14% below the SMA50 and -41.16% below the SMA200.
The stochastic %K and %D were 34.41% and 35.99%, respectively, and the average true range (ATR) was 0.0834. With the 14-day stochastic at 29.03% and the average true range at 0.0878, the RSI (14) stands at 39.69%. The stock has reached -0.0633 on the 9-day MACD Oscillator while the 14-day reading was at -0.0719.
Analyst Ratings
Bernstein launched coverage on Cronos Group Inc. (NASDAQ: CRON) in its analyst report released on November 02, 2022. The firm assigned the stock a Mkt perform rating. The consensus rating for Cronos Group Inc. (CRON) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CRON, while 6 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 3 others rate it as a “buy”.
What is CRON’s price target for the next 12 months?
Analysts predict a range of price targets between $1.57 and $3.77, with a median target of $2.51. Taking a look at these predictions, the average price target given by analysts for Cronos Group Inc. (CRON) stock is $2.53.
