Cresco Labs (OTCMKTS:CRLBF) Sees Strong Trading Volume – Here’s Why

Cresco Labs Inc. (OTCMKTS:CRLBF) saw an uptick in trading volume on Monday . 1,125,112 shares traded hands during mid-day 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 Ratings Changes

CRLBF has been the subject of a number of analyst reports. Atb Cap Markets upgraded shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. ATB Capital upgraded shares of Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. Finally, Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One investment 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 stock currently has a consensus rating of “Buy”.

Cresco Labs Price Performance

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 business’s 50 day moving average price is $1.06 and its 200 day moving average price is $0.92. The stock has a market capitalization of $471.61 million, a P/E ratio of -8.83 and a beta of 1.55.

Cresco Labs (OTCMKTS:CRLBF) last issued 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). Cresco Labs had a negative return on equity of 14.25% and a negative net margin of 7.79%.The company had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $163.74 million. Sell-side analysts forecast that Cresco Labs Inc. will post -0.2 EPS for the current year.

Cresco Labs Company Profile

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.