Cresco Labs (OTCMKTS:CRLBF) Shares Down 4%

Cresco Labs Inc. (OTCMKTS:CRLBFGet Free Report)’s stock price traded down 4% during trading on Thursday . The stock traded as low as $1.69 and last traded at $1.69. 456,263 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 926,498 shares. The stock had previously closed at $1.76.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cresco Labs in a research note on Thursday, May 16th. Roth Mkm raised their price target on shares of Cresco Labs from $1.75 to $2.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Wedbush raised their price target on shares of Cresco Labs from $2.50 to $3.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Finally, Echelon Wealth Partners raised shares of Cresco Labs from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Cresco Labs presently has an average rating of “Moderate Buy” and a consensus target price of $2.63.

Check Out Our Latest Analysis on CRLBF

Cresco Labs Price Performance

The company’s 50 day moving average price is $2.02 and its 200-day moving average price is $1.89. The stock has a market cap of $579.13 million, a P/E ratio of -3.60 and a beta of 1.92. The company has a quick ratio of 0.89, a current ratio of 1.36 and a debt-to-equity ratio of 1.57.

Cresco Labs (OTCMKTS:CRLBFGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). Cresco Labs had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $184.30 million during the quarter, compared to analysts’ expectations of $183.31 million. As a group, sell-side analysts expect that Cresco Labs Inc. will post -0.04 earnings per share for the current year.

About Cresco Labs

(Get Free Report)

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.

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