Cresco Labs (OTCMKTS:CRLBF) Downgraded by Cormark to Hold

Cresco Labs (OTCMKTS:CRLBF) was downgraded by investment analysts at Cormark from a “moderate buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports. Cormark also issued estimates for Cresco Labs’ FY2024 earnings at ($0.21) EPS and FY2025 earnings at $0.03 EPS.

A number of other analysts also recently issued reports on the stock. Ventum Cap Mkts raised shares of Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Finally, Roth Capital raised shares of Cresco Labs to a “strong-buy” rating in a report on Sunday. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2.50.

Cresco Labs Stock Up 14.3 %

OTCMKTS:CRLBF opened at $1.44 on Monday. The firm has a market cap of $702.92 million, a P/E ratio of -7.20 and a beta of 1.88. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.30 and a current ratio of 2.00. Cresco Labs has a fifty-two week low of $1.02 and a fifty-two week high of $2.65. The firm has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $1.71.

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.