Cresco Labs (OTCMKTS:CRLBF) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a strong sell rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Cresco Labs Stock Down 11.8%

Shares of OTCMKTS CRLBF traded down $0.13 on Wednesday, reaching $0.94. 1,276,395 shares of the company’s stock traded hands, compared to its average volume of 831,241. The company has a quick ratio of 2.22, a current ratio of 2.49 and a debt-to-equity ratio of 1.28. The business’s 50 day simple moving average is $1.20 and its two-hundred day simple moving average is $0.91. Cresco Labs has a 12 month low of $0.43 and a 12 month high of $1.62. The company has a market cap of $336.03 million, a price-to-earnings ratio of -6.29 and a beta of 1.51.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Friday, November 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $163.74 million. Cresco Labs had a negative return on equity of 14.25% and a negative net margin of 7.79%. As a group, equities research analysts forecast that Cresco Labs will post -0.2 EPS for the current fiscal 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.