Cresco Labs (OTCMKTS:CRLBF) Shares Down 4.9% – Should You Sell?

Cresco Labs Inc. (OTCMKTS:CRLBF) shares fell 4.9% on Monday . The company traded as low as $0.7650 and last traded at $0.77. Approximately 554,892 shares traded hands during trading, an increase of 2% from the average daily volume of 544,753 shares. The stock had previously closed at $0.81.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Cresco Labs Stock Performance

The business has a 50 day simple moving average of $0.93 and a 200 day simple moving average of $1.03. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $387.13 million, a PE ratio of -1.97 and a beta of 1.51.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $151.32 million for the quarter, compared to analysts’ expectations of $148.58 million. Equities research analysts predict that Cresco Labs Inc. will post -0.09 EPS 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.