Cresco Labs (OTCMKTS:CRLBF) Trading Down 0.7% – What’s Next?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s share price fell 0.7% during trading on Thursday . The company traded as low as $0.6527 and last traded at $0.7351. 315,420 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 471,479 shares. The stock had previously closed at $0.74.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners reissued a “buy” rating on shares of Cresco Labs in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Cresco Labs Stock Performance

The company’s 50 day simple moving average is $0.75 and its 200 day simple moving average is $0.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.78. The stock has a market cap of $369.58 million, a PE ratio of -2.45 and a beta of 1.54.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $173.34 million during the quarter, compared to analyst estimates of $166.20 million. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%. Analysts expect that Cresco Labs Inc. will post -0.04 earnings per share for the current 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.