Cresco Labs (OTCMKTS:CRLBF) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks reports.

Separately, Alliance Global Partners reiterated a “buy” rating on shares of Cresco Labs in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Cresco Labs presently has an average rating of “Strong Buy”.

Cresco Labs Stock Performance

Shares of CRLBF stock opened at $0.64 on Tuesday. Cresco Labs has a fifty-two week low of $0.59 and a fifty-two week high of $2.30. The stock’s 50-day moving average is $0.74 and its two-hundred day moving average is $0.83. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.78 and a quick ratio of 0.98. The firm has a market cap of $239.98 million, a P/E ratio of -2.15 and a beta of 1.59.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $173.34 million during the quarter, compared to analyst estimates of $166.20 million. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%. Analysts predict that Cresco Labs will post -0.04 earnings per share for the current fiscal year.

Cresco Labs Company Profile

Cresco Labs Inc is a vertically integrated cannabis company headquartered in Chicago, Illinois. Founded in 2013, the company cultivates, manufactures and distributes cannabis products for adult-use and medical markets in states where cannabis is legally permitted.

The company’s product portfolio includes flower, pre-rolls, vapes, concentrates, edibles and other cannabis products sold under brands such as Cresco, High Supply, Good News, Wonder Wellness, FloraCal, Remedi and Mindy’s Edibles.