Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up – Still a Buy?

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF) gapped up before the market opened on Friday . The stock had previously closed at $0.7790, but opened at $1.03. Cresco Labs shares last traded at $1.41, with a volume of 5,213,309 shares.

Wall Street Analysts Forecast Growth

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

Cresco Labs Trading Up 75.2%

The company has a debt-to-equity ratio of 1.28, a current ratio of 2.49 and a quick ratio of 1.54. The firm has a market capitalization of $485.67 million, a P/E ratio of -9.10 and a beta of 1.55. The firm has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $0.91.

Cresco Labs (OTCMKTS:CRLBF) last announced its earnings results on Friday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $165.00 million for the quarter, compared to the consensus estimate of $163.74 million. Cresco Labs had a negative net margin of 7.79% and a negative return on equity of 14.25%. On average, equities research 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.