Cresco Labs (OTCMKTS:CRLBF) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF) saw an uptick in trading volume on Monday . 1,125,112 shares changed hands during trading, an increase of 28% from the previous session’s volume of 879,962 shares.The stock last traded at $1.4325 and had previously closed at $1.43.

Analyst Upgrades and Downgrades

CRLBF has been the subject of several analyst reports. Zacks Research raised shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. ATB Capital upgraded shares of Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. Finally, Atb Cap Markets raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy”.

Cresco Labs Stock Down 7.3%

The company’s fifty day simple moving average is $1.06 and its 200 day simple moving average is $0.92. The company has a quick ratio of 1.54, a current ratio of 2.49 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $471.61 million, a PE ratio of -8.83 and a beta of 1.55.

Cresco Labs (OTCMKTS:CRLBF) last posted its earnings results on Friday, November 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $165.00 million for 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%. Analysts anticipate that Cresco Labs Inc. will post -0.2 earnings per share 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.