Cresco Labs Inc. (OTCMKTS:CRLBF) Receives Consensus Recommendation of “Buy” from Brokerages

Cresco Labs Inc. (OTCMKTS:CRLBF) has been assigned an average rating of “Buy” from the four analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have issued a strong buy rating on the company.

A number of research firms recently commented on CRLBF. Cormark raised shares of Cresco Labs from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 17th. Canaccord Genuity Group lowered Cresco Labs from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, June 3rd.

Cresco Labs Trading Down 3.7%

OTCMKTS:CRLBF opened at $0.51 on Friday. The stock has a fifty day simple moving average of $0.68 and a 200 day simple moving average of $0.82. The firm has a market capitalization of $251.45 million, a price-to-earnings ratio of -2.56 and a beta of 1.47. Cresco Labs has a 1-year low of $0.49 and a 1-year high of $2.05. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 1.80.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings data on Friday, May 30th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $165.76 million for the quarter, compared to analysts’ expectations of $164.37 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. Sell-side analysts forecast that Cresco Labs will post -0.2 earnings per share for the current year.

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.