Cresco Labs (OTCMKTS:CRLBF) Shares Down 0.7% – Should You Sell?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s share price fell 0.7% during trading on Thursday . The stock traded as low as $0.6527 and last traded at $0.7351. Approximately 315,420 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 471,479 shares. The stock had previously closed at $0.74.

Analyst Ratings Changes

Separately, Alliance Global Partners reissued a “buy” rating on shares of Cresco Labs in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy”.

Cresco Labs Price Performance

The firm has a market cap of $388.53 million, a PE ratio of -2.58 and a beta of 1.54. The stock has a 50 day simple moving average of $0.75 and a two-hundred day simple moving average of $0.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.78.

Cresco Labs (OTCMKTS:CRLBF) last issued its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $173.34 million for the quarter, compared to the consensus estimate of $166.20 million. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%. Sell-side analysts expect that Cresco Labs Inc. will post -0.04 earnings per share for the current 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.