Cresco Labs (OTCMKTS:CRLBF) Trading 1.9% Higher – Should You Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s share price traded up 1.9% during mid-day trading on Tuesday . The company traded as high as $1.11 and last traded at $1.06. 731,534 shares were traded during trading, an increase of 42% from the average session volume of 513,523 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

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

Cresco Labs Stock Performance

The stock has a market capitalization of $379.08 million, a PE ratio of -7.07 and a beta of 1.46. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.54 and a current ratio of 2.49. The firm has a 50 day moving average of $1.15 and a 200-day moving average of $1.10.

Cresco Labs (OTCMKTS:CRLBF) last released its 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). The business had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $163.74 million. Cresco Labs had a negative net margin of 7.79% and a negative return on equity of 14.25%. Research analysts forecast that Cresco Labs Inc. will post -0.2 earnings per share for the current year.

Cresco Labs Company Profile

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.