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

Cresco Labs Inc. (OTCMKTS:CRLBF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company 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 Ratings Changes

Several equities analysts have recently commented on CRLBF shares. Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Atb Cap Markets raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Finally, ATB Capital upgraded shares of Cresco Labs to an “outperform” rating in a research 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Cresco Labs Price Performance

The business’s fifty day moving average price is $1.06 and its 200 day moving average price is $0.93. 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 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 announced its quarterly earnings results on Friday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $165.00 million for the quarter, compared to the consensus estimate of $163.74 million. Cresco Labs had a negative net margin of 7.79% and a negative return on equity of 14.25%. Sell-side analysts forecast that Cresco Labs Inc. will post -0.2 EPS for the current fiscal year.

Cresco Labs Company Profile

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.