Cresco Labs (OTCMKTS:CRLBF) Sets New 52-Week High – Time to Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF) hit a new 52-week high during trading on Wednesday . The stock traded as high as $1.99 and last traded at $1.93, with a volume of 910976 shares. The stock had previously closed at $1.7541.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRLBF. ATB Capital raised Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. Atb Cap Markets upgraded shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Finally, Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Cresco Labs Stock Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 2.49 and a quick ratio of 1.54. The stock’s 50-day moving average price is $1.06 and its 200-day moving average price is $0.93. The company has a market cap of $669.15 million, a P/E ratio of -12.53 and a beta of 1.55.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $165.00 million for the quarter, compared to the consensus estimate of $163.74 million. Equities analysts anticipate that Cresco Labs Inc. will post -0.2 EPS for the current year.

About Cresco Labs

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.