Cresco Labs (OTCMKTS:CRLBF) Trading Up 3.6% – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Cresco Labs Price Performance

The firm’s 50-day moving average is $0.96 and its 200-day moving average is $1.03. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.51 and a quick ratio of 1.41. The company has a market capitalization of $477.52 million, a P/E ratio of -2.44 and a beta of 1.51.

Cresco Labs (OTCMKTS:CRLBF) last announced its earnings results on Friday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $151.33 million for the quarter, compared to the consensus estimate of $148.58 million. Cresco Labs had a negative net margin of 20.90% and a negative return on equity of 17.98%. Analysts predict that Cresco Labs Inc. will post -0.09 EPS 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.