|Bid||15.15 x 0|
|Ask||15.18 x 0|
|Day's Range||15.04 - 15.58|
|52 Week Range||8.47 - 32.95|
|Beta (3Y Monthly)||4.07|
|PE Ratio (TTM)||21.31|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.94|
The consensus target price for Cronos Group stock fell to 19.88 Canadian dollars from 20.3 Canadian dollars in August, which represents a fall of ~2.07%.
Aurora Cannabis posted its fourth-quarter earnings after the market closed on Wednesday. The company posted revenues of 98.9 million Canadian dollars.
On Tuesday, Eight Capital removed its target price for CannTrust Holdings due to uncertainty about the risks involved in the company's future operations.
Cannabis ETFs the ETFMG Alternative Harvest ETF and the Horizons Marijuana Life Sciences Index ETF were up 0.7% and 0.4%, respectively, at 2:15 PM today.
Cronos Group and Aphria are Jim Cramer's top picks in the cannabis sector. Aphria’s upbeat earnings results restored investors' faith in the sector.
Aurora Cannabis (ACB) stock has been rising before its fourth-quarter earnings on Thursday. The stock has risen 12.4% this month.
The S&P; 500 Index and the DJIA fell 0.3% and 0.1%, respectively, today. However, the cannabis ETFs and the majority of the cannabis stocks were trading in the green.
Aurora Cannabis should report its fourth-quarter earnings results on Thursday. So far, September has been positive. As of Monday, the stock has gained 8.7%.
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Cannabis ETFs the ETFMG Alternative Harvest ETF and the Horizons Marijuana Life Sciences Index ETF were up 2.0% and 1.7%, respectively, at 1:20 PM today.
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BMO Capital Markets analyst Tamy Chen says Cronos is now trading in line with her valuation of other Canadian pot companies.
Last month, Charlotte's Web Holdings (CWBHF) (CWEB) announced its second-quarter results. It missed analysts’ revenue and EPS expectations.
Cannabis stocks were mostly lower Wednesday with Green Organic Dutchman sliding 15% after Aurora Cannabis sold its remaining roughly 10% stake in the company at a discount.
Cronos Group Inc. shares fell 1% Tuesday, after Cowen cut its stock price target to C$17 ($13) from C$21, and said the company has not outlined its path to profitability in Canada and does not have the same scale as rivals Canopy Growth Corp. and Tilray Inc. . Cronos has told investors it expects a long path to profitability as it builds out its international infrastructure with the $1.8 billion investment received from tobacco giant Altria Group . "While U.S. CBD entry via Redwood (Lord Jones) does represent upside tension to our estimates, we do not believe it is enough to warrant a more constructive view on the stock at current multiples, which we think are supported by MO's clear path to control," analyst Vivien Azer wrote in a note. "We continue to like the story, as well as management, and would consider taking a positive position at the right valuation." Azer is sticking with his market perform rating on the stock. Cronos shares have gained 5% in 2019, while the ETFMG Alternative Harvest ETF has fallen 3.3% and the S&P 500 has gained 16%.
Cronos Group (CRON) reported its Q2 results last month. Despite better-than-expected sales, its Q2 losses widened and its stock has fallen 23% since then.