Cresco Labs (OTCMKTS:CRLBF) Releases Quarterly Earnings Results

Cresco Labs (OTCMKTS:CRLBF) issued its quarterly earnings data on Friday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02), Zacks reports. The company had revenue of $165.00 million during the quarter, compared to the consensus estimate of $163.74 million. Cresco Labs had a negative net margin of 6.67% and a negative return on equity of 11.77%.

Cresco Labs Price Performance

Shares of Cresco Labs stock opened at $1.07 on Friday. The company has a quick ratio of 2.22, a current ratio of 3.10 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $380.85 million, a price-to-earnings ratio of -7.13 and a beta of 1.51. Cresco Labs has a twelve month low of $0.43 and a twelve month high of $1.62. The company has a 50-day simple moving average of $1.21 and a two-hundred day simple moving average of $0.89.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Cresco Labs from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cresco Labs presently has a consensus rating of “Hold”.

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.