5 Best Marijuana Stocks to Buy Now

3. Cronos Group, Inc. (NASDAQ:CRON)

Number of Hedge Fund Holders: 9

Cronos Group, Inc. (NASDAQ:CRON) operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.

On July 28, Canaccord analyst Matt Bottomley upgraded Cronos Group, Inc. (NASDAQ:CRON) to Buy from Hold and raised his price target to C$5 from C$4.50.

On August 9, Cronos Group, Inc. (NASDAQ:CRON) reported earnings for the fiscal second quarter of 2022. The company reported a revenue of $22.98 million, up 48.04% year over year.

At the end of Q1 2022, Cronos Group, Inc. (NASDAQ:CRON) was spotted on 9 hedge fund portfolios. The collective stakes of these hedge funds amounted to $48.14 million. This is compared to 11 positions in the previous quarter with stakes worth $51.09 million.

As of June 30, Chescapmanager LLC owns over 8.32 million shares of Cronos Group, Inc. (NASDAQ:CRON) and is the largest shareholder in the company. The investment covers 5.54% of Traci Lerner’s 13F portfolio.