Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up – Should You Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF) shares gapped up before the market opened on Friday . The stock had previously closed at $1.20, but opened at $1.3350. Cresco Labs shares last traded at $1.4075, with a volume of 1,434,600 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRLBF. Atb Cap Markets raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Zacks Research raised Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, ATB Capital raised shares of Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cresco Labs presently has an average rating of “Buy”.

Cresco Labs Stock Performance

The stock has a market capitalization of $469.83 million, a P/E ratio of -8.80 and a beta of 1.55. The company has a 50 day simple moving average of $1.07 and a 200-day simple moving average of $0.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.49 and a quick ratio of 1.54.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.05) earnings per share 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 firm had revenue of $165.00 million for the quarter, compared to the consensus estimate of $163.74 million. On average, equities analysts forecast that Cresco Labs Inc. will post -0.2 EPS 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.