Cresco Labs (OTCMKTS:CRLBF) Trading 18.9% Higher – Time to Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF) traded up 18.9% on Wednesday . The stock traded as high as $1.20 and last traded at $1.13. 782,951 shares traded hands during trading, a decline of 6% from the average session volume of 835,390 shares. The stock had previously closed at $0.95.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Cresco Labs Trading Up 23.5%

The business’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.08. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.59 and a quick ratio of 1.60. The company has a market capitalization of $589.99 million, a price-to-earnings ratio of -3.01 and a beta of 1.49.

Cresco Labs (OTCMKTS:CRLBF) last announced its earnings results on Thursday, March 5th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $164.04 million during the quarter, compared to the consensus estimate of $160.87 million. Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%. Research analysts anticipate that Cresco Labs Inc. will post -0.11 EPS for the current year.

Cresco Labs Company Profile

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.