Cresco Labs (OTCMKTS:CRLBF) Announces Quarterly Earnings Results

Cresco Labs (OTCMKTS:CRLBF) issued its quarterly earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01), Zacks reports. Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%.

Cresco Labs Stock Performance

Shares of OTCMKTS:CRLBF traded down $0.05 during midday trading on Friday, reaching $1.05. The company’s stock had a trading volume of 1,725,173 shares, compared to its average volume of 936,485. The firm has a market capitalization of $527.89 million, a PE ratio of -2.69 and a beta of 1.59. Cresco Labs has a twelve month low of $0.43 and a twelve month high of $2.30. The stock has a fifty day moving average of $0.98 and a 200 day moving average of $1.06. The company has a quick ratio of 1.60, a current ratio of 2.59 and a debt-to-equity ratio of 1.72.

Wall Street Analysts Forecast Growth

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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

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.