Wall Street’s most bullish Cronos Group Inc. (NASDAQ:CRON) analysts are predicting the share price to blow past $24 per share during the next 12 months. The current median share price forecast by them is $17, suggesting that the stock could increase 24.36% in that time frame. The average price target of $19.6 calls for a nearly 43.38% increase in the stock price.
Cronos Group Inc. (CRON) trading activity significantly improved as the volume at ready counter increased to 10,365,163 shares versus 6,366,430 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 7,596,988 shares. The share price rose 4.67% in recent trade and currently has a stock-market value of $2.44B. The shares finished at $13.67, after trading as low as $12.89 earlier in the session. It hit an intraday high Friday at $13.99. The stock is now 187.79% above against its bear-market low of $4.75 on February 05, 2018. It has retreated -11.92% since it’s 52-week high of $15.3 reached in September. Now the market price is up 28.36% on the year and up 31.57% YTD.
CRON’s 50 day simple moving average (SMA 50) price is $10.08 and its 200-day simple moving average (SMA 200) price is $8.37. The company’s stock currently has a total float of 156.29M shares. Its weekly volatility is hovering around 6.72% and felt 7.33% volatility in price over a month. On the upside, the share price will test short term resistance at around $14.14. On a downside, the stock is likely to find some support, which begins at $13.04. The failure to get near-term support could push it to $12.42.
Also, it is trading at rather expensive levels at just over 14.64x price/book and 277.53x price/sales.
CRON last reported earnings on November 13, 2018 when it released Sep-18 results that receded expectations. The company raked in -$0.04 per share, -99.98% change on the same period last year. That was worse than consensus for -$0.01. Revenue for the recent quarter stood at $3.76 million, up 187% on last year and above the $3.56 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $85.01 million to $152.23 million, which should be compared with $109.93 million generated last year. EPS is seen in a range of $5.53 to $0.2.