Zacks Research downgraded shares of Cresco Labs (OTCMKTS:CRLBF – Free Report) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks reports.
Separately, Alliance Global Partners reiterated a “buy” rating on shares of Cresco Labs in a research report on Thursday, August 6th. One research 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 MarketBeat.com, the company has a consensus rating of “Buy”.
View Our Latest Analysis on Cresco Labs
Cresco Labs Stock Performance
OTCMKTS CRLBF opened at $0.57 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $211.87 million, a P/E ratio of -1.90 and a beta of 1.60. Cresco Labs has a 12-month low of $0.55 and a 12-month high of $2.30. The firm has a 50-day moving average price of $0.68 and a two-hundred day moving average price of $0.85.
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. The firm had revenue of $173.34 million for the quarter, compared to analyst estimates of $166.20 million. Analysts anticipate that Cresco Labs will post -0.04 earnings per share for the current year.
Cresco Labs Company Profile
Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.
The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.
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