5 Best Hemp Stocks To Buy Now

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

Number of Hedge Fund Holders: 5

Cronos Group, Inc. (NASDAQ:CRON) is a diversified vertically-integrated cannabinoid company. The company is involved in the manufacturing and distribution of cannabis and cannabis derivatives. On August 9, Cronos Group, Inc. (NASDAQ:CRON) reported that its revenue for the second quarter of fiscal 2022 amounted to roughly $23 million, up 48% year over year.

This July, Canaccord analyst Matt Bottomley raised his price target on Cronos Group, Inc. (NASDAQ:CRON) to C$5 from C$4.50 and upgraded the stock to Buy from Hold. This September, Barclays analyst Gaurav Jain revised his price target on Cronos Group, Inc. (NASDAQ:CRON) to $3.50 from $5 and maintained an Equal Weight rating on the shares.

Cronos Group, Inc. (NASDAQ:CRON) has a consensus Buy rating and the stock is among the best marijuana stocks to buy now. Over the past three months, the stock has received 3 Buy ratings and 5 Hold ratings. The stock has an average price target of $4.45 which implies an upside of 57.8%.

At the close of Q2 2022, 5 hedge funds held stakes in Cronos Group, Inc. (NASDAQ:CRON). The total value of these stakes amounted to $35.2 million. As of June 30, Chescapmanager LLC owns more than 8.3 million shares of Cronos Group, Inc. (NASDAQ:CRON) and is the largest shareholder in the company. The fund’s stakes are valued at $23.4 million.