Cresco Labs (OTCMKTS:CRLBF) Trading Down 2.1% – Here’s What Happened

Cresco Labs Inc. (OTCMKTS:CRLBF) shares fell 2.1% during trading on Friday . The stock traded as low as $1.20 and last traded at $1.2530. 301,351 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,175,176 shares. The stock had previously closed at $1.28.

Wall Street Analyst Weigh In

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

Cresco Labs Stock Performance

The company has a quick ratio of 1.54, a current ratio of 2.49 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $1.07 and a two-hundred day moving average price of $1.02. The firm has a market cap of $448.10 million, a PE ratio of -8.35 and a beta of 1.47.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Cresco Labs had a negative return on equity of 14.25% and a negative net margin of 7.79%.The firm had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $163.74 million. Research analysts forecast that Cresco Labs Inc. will post -0.2 EPS for the current fiscal year.

About Cresco Labs

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.