Cresco Labs (OTCMKTS:CRLBF) Shares Gap Down – Time to Sell?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $1.24, but opened at $1.18. Cresco Labs shares last traded at $1.4230, with a volume of 794,942 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Atb Cap Markets raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. ATB Capital upgraded Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. Finally, Zacks Research raised shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Cresco Labs Stock Performance

The company has a current ratio of 2.49, a quick ratio of 1.54 and a debt-to-equity ratio of 1.28. The business’s 50-day moving average is $1.07 and its two-hundred day moving average is $1.03.

Cresco Labs (OTCMKTS:CRLBF) last posted its earnings results on Friday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Cresco Labs had a negative return on equity of 14.25% and a negative net margin of 7.79%.The company had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $163.74 million. Equities research analysts predict that Cresco Labs Inc. will post -0.2 EPS for the current fiscal year.

About Cresco Labs

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.