Stock Traders Buy High Volume of Put Options on Cronos Group (NASDAQ:CRON)

Cronos Group Inc. (NASDAQ:CRON) saw some unusual options trading on Friday. Stock investors bought 4,004 put options on the stock. This is an increase of 74% compared to the average volume of 2,299 put options.

Hedge Funds Weigh In On Cronos Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Formidable Asset Management LLC lifted its position in shares of Cronos Group by 2.1% in the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company’s stock valued at $562,000 after acquiring an additional 5,637 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Cronos Group by 8.0% in the fourth quarter. Two Sigma Advisers LP now owns 275,357 shares of the company’s stock valued at $556,000 after acquiring an additional 20,400 shares in the last quarter. Shay Capital LLC lifted its position in shares of Cronos Group by 79.6% in the fourth quarter. Shay Capital LLC now owns 55,413 shares of the company’s stock valued at $112,000 after acquiring an additional 24,563 shares in the last quarter. Millennium Management LLC lifted its position in shares of Cronos Group by 23.7% in the fourth quarter. Millennium Management LLC now owns 840,374 shares of the company’s stock valued at $1,698,000 after acquiring an additional 161,163 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Cronos Group by 27.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 154,160 shares of the company’s stock valued at $310,000 after acquiring an additional 33,560 shares in the last quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.

Cronos Group Trading Down 1.0 %

Shares of CRON opened at $1.99 on Friday. Cronos Group has a 12 month low of $1.83 and a 12 month high of $3.14. The stock’s 50 day moving average is $1.97 and its two-hundred day moving average is $2.07. The firm has a market cap of $761.24 million, a P/E ratio of -15.31, a PEG ratio of 1.74 and a beta of 0.89.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.