Cronos Stock Is Getting New Life as Shares Hit a 6-Month High

• Cronos (CRON) has demonstrated robust technical momentum, with shares up more than 20% over the past year.
• CRON maintains a 100% “Buy” rating from Barchart.
• Revenue is projected to grow 39% this year and 15.78% next year, supporting positive sentiment from analysts and investors.
• The company focuses on brand growth, global distribution expansion, and supply chain efficiency.

Today’s Featured Stock

Valued at $1.18 billion, Cronos (CRON) invests in firms which are licensed to produce and sell medical marijuana. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. CRON checks those boxes. The Trend Seeker issued a new “Buy” signal on Aug. 6.  Since then, the stock has gained 0.98%.

Barchart’s Technical Indicators for Cronos

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Cronos scored a 6-month high of $3.31 on Aug. 13.

• Cronos has a Weighted Alpha of 21.44.
• CRON has a 100% “Buy” opinion from Barchart.
• The stock has gained 23.41% over the past 52 weeks.
• Cronos has its Trend Seeker “Buy” signal intact.
• The stock recently traded at $3.06 with a 50-day moving average of $2.81.
• CRON has made 10 new highs and gained 13.09% over the past month.
• 60-month beta of 0.90.
• Relative Strength Index (RSI) is at 58.62.
• There’s a technical support level around $3.10.

Don’t Forget the Fundamentals

• $1.18 billion market capitalization.
• 28.00x trailing price-earnings ratio.
• Revenue is expected to grow 39.00% this year and another 15.78% next year.

Analyst and Investor Sentiment on Cronos

• The Wall Street analysts followed by Barchart give the stock 3 “Strong Buy” and 2 “Hold” opinions with price targets between $2.50 and $4.30.
• Value Line rates the stock “Average.”
• CFRA’s MarketScope rates the stock a “Hold.”
• Morningstar thinks the stock is fairly valued.
• 67,410 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.”
• Short interest is only 0.94% of the float with 4.50 days to cover the float.

The Bottom Line on Cronos

Cronos distributes products primarily through wholesale and pharmacy channels in its core markets. The company’s strategic priorities revolve around growing iconic brands, expanding a diversified global sales and distribution network, establishing an efficient global supply chain, and creating disruptive intellectual property. 

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.

On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.