Cresco Labs (OTCMKTS:CRLBF) Trading Up 3.6% – Here’s What Happened

Cresco Labs Inc. (OTCMKTS:CRLBF) shares rose 3.6% on Monday . The stock traded as high as $0.98 and last traded at $0.9498. Approximately 476,660 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 690,088 shares. The stock had previously closed at $0.9168.

Wall Street Analysts Forecast Growth

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

Cresco Labs Trading Down 4.6%

The firm has a market cap of $438.36 million, a price-to-earnings ratio of -2.24 and a beta of 1.50. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 1.78. The business’s fifty day moving average is $0.96 and its two-hundred day moving average is $1.03.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Cresco Labs had a negative return on equity of 17.98% and a negative net margin of 20.90%.The firm had revenue of $151.33 million during the quarter, compared to analyst estimates of $148.58 million. Equities analysts anticipate that Cresco Labs Inc. will post -0.09 earnings per share for the current fiscal year.

About Cresco Labs

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.