Cresco Labs (OTCMKTS:CRLBF) Posts Earnings Results, Hits Expectations

Cresco Labs (OTCMKTS:CRLBF) posted its quarterly earnings results on Friday. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01), Zacks reports. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. The firm had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $172.10 million.

Cresco Labs Stock Performance

CRLBF stock traded up $0.05 on Friday, hitting $0.75. The company had a trading volume of 202,661 shares, compared to its average volume of 601,047. Cresco Labs has a 12-month low of $0.70 and a 12-month high of $2.60. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $1.20. The stock has a market cap of $364.25 million, a price-to-earnings ratio of -3.73 and a beta of 1.79.

Analyst Ratings Changes

Separately, Atb Cap Markets cut shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3.00.

About Cresco Labs

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.