Insider Concerns Just Created a Buying Opportunity in Cronos Group Inc. (CRON)
Cronos Group Inc. (CRON) will probably climb 100 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $24month high price target. This represents a whopping 135.06 percent increase from where shares are trading today.
The 12-month median price target assigned by the analysts stands at $17, which represents a return potential of 66.5 percent when compared to the closing price of the stock of $10.21usd on Friday, December 21. The lowest price target for the stock is $4.5 — slightly more than -55.93 percent from CRON’s current share price.
On 21 December, shares of Cronos Group Inc. (NASDAQ:CRON) closed lower after a volatile session. The shares dropped -0.92 points or -8.27 percent at $10.21 with a light trade volume of 7.174 million shares. After opening the session at $11.3, the shares went as high as $11.39 and as low as $10, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $1.82 billion and now has 178.71 million shares outstanding. Cronos Group Inc. (CRON) stock has gained 24.51 percent of market value in 21 trading days.
CRON stock has a trailing 3-year beta of 0, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was -$0.03 a share in the trailing twelve months. The stock’s value has surged 32.1 percent year to date (YTD) against a rise of 150.25 percent in 12 month’s time. The company’s shares still trade -33.27 percent away from its 1-year high of $15.30 and 149.02 percent up from 52-week low of $4.10. The average consensus rating on the company is 0, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a buy.
Cronos Group Inc. (CRON) will probably climb -100 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $24-month high price target. This represents a whopping 135.06 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $17, which represents a return potential of 66.5 percent when compared to the closing price of the stock of $10.21 on Friday, December 21. The lowest price target for the stock is $4.5 — slightly more than -55.93 percent from CRON’s current share price.
History has shown that shares in Cronos Group Inc. have gone down on 2 different earnings reaction days and are predicted to add 0.02 percent when the company reports upcoming earnings.
The stock is currently hovering around the first support level of $9.68. Below this, the next support is placed in the zone of $9.14. Till the time, the CRON stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 48.96 on daily chart, which may remain a cause for concern. If the price breaks below $9.14 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $11.07 mark may result into a pull-back move towards $11.92 level.
Shares of Cronos Group Inc. (CRON) are trading at a P/E ratio of 88.97 times earnings reported for the past 12 months. The industry CRON operates in has an average P/E of 31.13. Its P/E ratio went as low as 0X and as high as 0 over the 5-year span.Further, it is sporting a 207.29 on the Price-to-Sales ratio. Compare this with the industry average P/S of 4.
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