Cresco Labs (OTCMKTS:CRLBF) Stock Price Down 0.1% – What’s Next?

Cresco Labs Inc. (OTCMKTS:CRLBF) shares were down 0.1% on Thursday . The company traded as low as $0.7170 and last traded at $0.7291. 280,673 shares changed hands during trading, a decline of 52% from the average daily volume of 581,200 shares. The stock had previously closed at $0.73.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners restated a “buy” rating on shares of Cresco Labs in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Cresco Labs currently has a consensus rating of “Buy”.

Cresco Labs Trading Up 2.9%

The business has a 50 day simple moving average of $0.74 and a 200 day simple moving average of $0.86. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.78 and a quick ratio of 0.98. The company has a market cap of $377.07 million, a price-to-earnings ratio of -2.50 and a beta of 1.57.

Cresco Labs (OTCMKTS:CRLBF) last announced its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%.The company had revenue of $173.34 million during the quarter, compared to analyst estimates of $166.20 million. As a group, equities analysts forecast that Cresco Labs Inc. will post -0.04 EPS for the current year.

Cresco Labs Company Profile

Cresco Labs Inc is a vertically integrated cannabis company that cultivates, manufactures, distributes and sells cannabis products in the United States. Its operations include cannabis cultivation facilities, product manufacturing and wholesale distribution, as well as retail dispensaries operating under the Sunnyside brand.

The company offers a range of cannabis products, including flower, pre-rolls, vapes, concentrates, edibles and other wellness-oriented products. Its portfolio has included brands such as Cresco, High Supply, Good News, Wonder Wellness, Remedi and FloraCal Farms, with product availability varying by state and local regulations.

Founded in 2013 and headquartered in Chicago, Cresco Labs serves regulated cannabis markets through state-licensed operations.