Cresco Labs (OTCMKTS:CRLBF) Shares Gap Down – Here’s Why

Cresco Labs Inc. (OTCMKTS:CRLBF) gapped down prior to trading on Friday . The stock had previously closed at $1.44, but opened at $1.38. Cresco Labs shares last traded at $1.47, with a volume of 120,798 shares changing hands.

Cresco Labs Trading Down 3.5%

The business’s fifty day moving average is $1.09 and its 200-day moving average is $0.79. The firm has a market cap of $494.74 million, a P/E ratio of -10.69 and a beta of 1.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.22 and a current ratio of 3.10.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $163.62 million during the quarter, compared to the consensus estimate of $162.00 million. Cresco Labs had a negative net margin of 6.67% and a negative return on equity of 11.77%. Analysts predict 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.