Cresco Labs (OTCMKTS:CRLBF) Trading Down 0.1% – Here’s Why

Shares of Cresco Labs Inc. (OTCMKTS:CRLBFGet Free Report) were down 0.1% during mid-day trading on Thursday . The company traded as low as $0.7170 and last traded at $0.7291. Approximately 280,673 shares were traded during mid-day trading, a decline of 52% from the average session volume of 581,200 shares. The stock had previously closed at $0.73.

Wall Street Analyst Weigh In

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

Get Our Latest Report on CRLBF

Cresco Labs Trading Down 0.1%

The firm has a market capitalization of $366.56 million, a price-to-earnings ratio of -2.43 and a beta of 1.57. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.78. The company has a 50-day moving average price of $0.74 and a 200-day moving average price of $0.86.

Cresco Labs (OTCMKTS:CRLBFGet Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $173.34 million during the quarter, compared to analysts’ expectations of $166.20 million. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%. As a group, research analysts forecast that Cresco Labs Inc. will post -0.04 EPS for the current fiscal year.

About Cresco Labs

(Get Free Report)

Cresco Labs Inc is a vertically integrated cannabis company that cultivates, manufactures, distributes and sells cannabis products in the United States. Its operations include cannabis cultivation facilities, product manufacturing and wholesale distribution, as well as retail dispensaries operating under the Sunnyside brand.

The company offers a range of cannabis products, including flower, pre-rolls, vapes, concentrates, edibles and other wellness-oriented products. Its portfolio has included brands such as Cresco, High Supply, Good News, Wonder Wellness, Remedi and FloraCal Farms, with product availability varying by state and local regulations.

Founded in 2013 and headquartered in Chicago, Cresco Labs serves regulated cannabis markets through state-licensed operations.

Further Reading

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