Cresco Labs (OTCMKTS:CRLBF) Shares Up 5.3% – What’s Next?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price traded up 5.3% during mid-day trading on Monday . The company traded as high as $0.8128 and last traded at $0.80. 324,825 shares were traded during trading, a decline of 21% from the average daily volume of 408,964 shares. The stock had previously closed at $0.76.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Cresco Labs Trading Up 5.3%

The firm has a market cap of $402.21 million, a P/E ratio of -2.05 and a beta of 1.52. The business’s 50-day moving average is $0.87 and its two-hundred day moving average is $0.99. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.51 and a quick ratio of 1.41.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Cresco Labs had a negative net margin of 20.90% and a negative return on equity of 17.98%. The business had revenue of $151.32 million during the quarter, compared to analyst estimates of $148.58 million. As a group, analysts predict that Cresco Labs Inc. will post -0.09 earnings per share for the current fiscal year.

Cresco Labs Company Profile

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.