Cresco Labs (OTCMKTS:CRLBF) Rating Lowered to “Hold” at Zacks Research

Cresco Labs (OTCMKTS:CRLBF) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Separately, Alliance Global Partners reissued a “buy” rating on shares of Cresco Labs in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cresco Labs has an average rating of “Buy”.

Cresco Labs Trading Down 4.1%

Cresco Labs stock opened at $0.57 on Wednesday. The stock has a 50-day moving average price of $0.68 and a 200 day moving average price of $0.85. Cresco Labs has a 52 week low of $0.55 and a 52 week high of $2.30. The stock has a market cap of $211.87 million, a PE ratio of -1.90 and a beta of 1.60. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 1.66.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. The company had revenue of $173.34 million for the quarter, compared to analysts’ expectations of $166.20 million. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. Equities research 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 Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.

The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.