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Wednesday, September 30, 2020

The Unprecedented Rise of Cronos Group Inc. (NASDAQ:CRON)

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The Cronos Group Inc. (CRON) shares are trading at lower $6.55.

To add more color to this target, the company’s high over the last year is $15.58 and the low is $4.00. Over the last 52 weeks, CRON is down -57.96% while the S&P 500 is up 0.79%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CRON reported a profit of $-6.48 million. Cronos Group Inc. also saw revenues decrease to $8.43 million. In addition, CRON has free cash flow of -$45.31 million as of 03-2020. The company’s EBITDA came in at -$43.9 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CRON has a short ratio of 8.12 and outstanding shares of 348.82M.

Company Outlook

CRON has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.82 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.71. Cronos Group Inc. CRON also noted assets of $1.93 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CRON has historically followed its peers on positive news.

All told, Cronos Group Inc. CRON has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CRON represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Cronos Group Inc. CRON is now commanding a market cap of 2.28B and a float of 183.23M. CRON is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CRON stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CRON, either long or short, and we have not been compensated for this article.

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